Case Law Details
Case Name : ACIT Vs Shri Narayanappa Ramanna (ITAT Bangalore)
Related Assessment Year : 2008-09
Courts :
All ITAT ITAT Bangalore
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ACIT Vs Shri Narayanappa Ramanna (ITAT Bangalore)
Introduction: In a landmark ruling, the Income Tax Appellate Tribunal (ITAT) Bangalore allowed the deduction claimed under Section 54F of the Income Tax Act for all apartment units received by the assessee pursuant to a Joint Development Agreement (JDA). This decision dismissed the Revenue’s appeal against the order of the Commissioner of Income Tax (Appeals) [CIT(A)], which had granted the deduction for multiple residential units. The relevant assessment year for this case was 2008-09.
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