Denial of exemption as inadvertently claimed u/s 54F instead of section 54 is unjustified

M M Pandit HUF Vs ACIT (ITAT Lucknow) ITAT Lucknow held that benefit of exemption cannot be disallowed merely because the same was claimed u/s 54F of the Income Tax Act instead of claiming u/s 54 of the Income Tax Act. Such mistake is inadvertent and typographical mistake. Facts- The assessee has sold a residential house & invested the amount in purchase of residential flat. The assessee claimed benefit u/s 54F of the Act in the return of income. AO disallowed the claimed with a view that the assessee claimed benefit erroneously u/s 54F of Act instead of claiming the benefit u/s 54 of Act ...