Gifting of property will entitle assessee to claim exemption u/s 54 if left with only one

Brief of the Case

ITAT Delhi held in case of ITO v Shri Sameer Jasuja the property has been gifted by the person to his wife, then Assessee will entitled to the exemption u/s 54F if he is left with one property. It further held that section 64(1)(iv) will not operate to nullify gift and would operate only to club income in the hands of donor assessee.

Facts of the Case

In the present facts there were two issu

Please become a Premium member. If you are already a Premium member, login here to access the full content.