Flat Holding Period for Section 54F Deduction reckoned from allotment letter date

ACIT Vs Sanjay Kumath (ITAT Indore) In the case of ACIT Vs. Sanjay Kumath, heard at the Income Tax Appellate Tribunal (ITAT) Indore, the central issue revolved around the eligibility of Section 54F deduction. The dispute centered on determining the period of holding for a flat, considering the date of the allotment letter as the starting point for the deduction. The case concerned the assessment year 2009-10. Detailed Analysis: The case involved an appeal by the Revenue and a cross-objection by the assessee against the order passed by the CIT(A) on February 18, 2013. The primary point of conte...