Change of Opinion Not Allowed, Section 54 Deduction to HUF for Property Purchase in Individual’s Name

Mandar Kulkarni Vs ITO (ITAT Ahmedabad) Section 54 deduction to HUF for property Purchase in the name of Individual: Change of opinion not allowed The Income Tax Appellate Tribunal (ITAT) Ahmedabad addressed an appeal by the assessee against the CIT(A) order for the Assessment Year 2011-12. The primary contention was the disallowance of a deduction claimed under Section 54 of the Income Tax Act, pertaining to the purchase of a property in the individual capacity of Mandar Kulkarni, a member of the Hindu Undivided Family (HUF). Case Background: The original return of income for A.Y. 2011-12 was...