Section 54F exemption on house purchased in the name of assessee’s wife & son allowed

Mukkamala Srihari Rao Vs ACIT (ITAT Ranchi) Whether the sale consideration received by a person from sale of capital asset if applied in the name of his wife or son for purchasing/constructing residential house whether the assessee can claim deduction u/s. 54F or 54 of the Act?. From going through the decision(s) relied on by the ld. Counsel for the assessee in the case of in the case of Bhagwan Swroop Pathak (supra), we find that similar issue was for consideration regarding the deduction u/s. 54F of the Act for the investments made in purchase of property in the name of assessee’s son. The...