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Sec 54B exemption cannot be denied for Investment made in Spouse name
Case Law Details
- Case Name
- Shri Laxmi Narayan Vs Commissioner of Income Tax (Rajasthan High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Rajasthan High Court
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Shri Laxmi Narayan Vs CIT (Rajasthan High Court)
On the ground of investment made by the assessee in the name of his wife, in view of the decision of Delhi High Court in Sunbeam Auto Ltd. and other judgments of different High Courts,the word used is assessee has to invest it is not specified that it is to be in the name of assessee.
It is true that the contentions which have been raised by the department is that the investment is made by the assessee in his own name but the legislature while using language has not used specific language with precision and the second reason is that view has als...
