Case Law Details
Case Name : Ushaben Jayantilal Sodhan Vs ITO (Gujarat High Court)
Related Assessment Year :
Courts :
All High Courts Gujarat High Court
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Ushaben Jayantilal Sodhan Vs ITO (Gujarat High Court);
Section 54F of the Act carries the title “capital gain on transfer of certain capital assets not to be charged in case of investment in residential house”. Subsection (1) of Section 54F of the Act provides for deduction in computation of capital gain arising out of transfer of long term capital asset if the assessee, within a period of 01 year or before 02 years after the date on which the transfer took place purchased or within a period of 03 years after such date constructed one residential house. If the cost of new asset is not le...
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OFFHAND
This Guj. HC Judgment , as independently viewed, goes to amply illustrate, and infallibly demonstrate, a very crucial reality historically obtaining in the legal regime. That has often been canvassed but remaining unresolved till now. And, in relation to which, because of mutually contradicting views being taken by the judiciary, the legal position, instead of being fully and finally settled, conclusively once for all, is noted to have brought about, in its wake a fresh wave of ideas, invaluably misconceived, and in turn, an un-manageable spate of litigation.
For a better perception and incisive appreciation : Cross refer viewpoints previously shared on , among others, the closely knit topics of ‘inconsistent court decisions’ and ‘ineptly drafted/structured legislation’, impulsively made; more so, without being backed up by a diligent home work !
MORE to re-share >OFFHAND
This Guj. HC Judgment , as independently viewed, goes to amply illustrate, and infallibly demonstrate, a very crucial reality historically obtaining in the legal regime. That has often been canvassed but remaining unresolved till now. And, in relation to which, because of mutually contradicting views being taken by the judiciary, the legal position, instead of being fully and finally settled, conclusively once for all, is noted to have brought about, in its wake a fresh wave of ideas, invaluably misconceived, and in turn, an un-manageable spate of litigation.
For a better perception and incisive appreciation : Cross refer viewpoints previously shared on , among others, the closely knit topics of ‘inconsistent court decisions’ and ‘ineptly drafted/structured legislation’, impulsively made; more so, without being backed up by a diligent home work !
MORE to re-share >https://taxguru.in/income-tax/sec-54f-brain-teaser.html