S. 54F Exemption not available for addition / Modification / Extension made to existing house

HIGH COURT OF KERALA Pushpa Versus Income tax Officer IT APPEAL NOS. 30 & 32 OF 2012 AUGUST 22, 2012 JUDGMENT Thottathil B. Radhakrishnan, J. The short issue raised by the assessee in these two appeals is as to whether the refusal of claim for exemption under s. 54F of the IT Act is sustainable. The learned counsel appearing for the appellant making reference to P. Ramanatha Aiyar’s The Law Lexicon points out that the word ‘building’ has to be understood depending upon the circumstances. What is a ‘building’ must always be a question, of degr...