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Demolition of house is ‘transfer’ & Exemption U/s. 54F may be withdrawn on such transfer
Case Law Details
- Case Name
- Assistant Commissioner of Income-tax-21(3) Vs Dilip Manhar Parekh (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2007-08
- Courts
- All ITAT, ITAT Mumbai
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ITAT MUMBAI BENCH ‘D’
Assistant Commissioner of Income-tax-21(3)
Versus
Dilip Manhar Parekh
IT Appeal No. 6596 (Mum.) of 2011
C.O. No. 37 (Mum.) of 2012
[ASSESSMENT YEAR 2007-08]
JANUARY 30, 2013
ORDER
D. Manmohan, Vice-President
These cross appeals pertain to A.Y. 2007-08 and they are directed against the order dated 4.7.2011 passed by learned CIT(A)-32, Mumbai. Denial of exemption u/s. 54F of the Act in respect of investment made by the assessee, co-owner in the Juhu Bungalow, is the subject matter of dispute before us.
2. Facts necessary for disposal of the appeal are stated i...
