Case Law Details
Case Name : Shri. Navin Jolly Vs ITO (Karnataka High Court)
Related Assessment Year : 2006-07
Courts :
All High Courts Karnataka High Court
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Navin Jolly Vs ITO (Karnataka High Court)
Multiple independent residential units in same building can be treated as one residential unit for section 54F Exemption and usage of the property has to be considered in determining whether it is a residential property or a commercial property
A bench of this court in while interpreting Section 54F of the Act has held that provisions of Please become a Premium member. If you are already a Premium member, login here to access the full content.
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if an assessee purchase one unit of flat 3A in the year 2012 and thereafter he purchased another flat 3B on the same floor and adjacent to old one in 2021 and started residing there after merging with the old one creating it as a single unit. whether these merging will be treated single unit used for residential purpose for I.T. purpose. Please provide your opinion.
IF my two flats are considered as one unit in BMC property tax or assessement. Can society charge one maintenance
Raul
Rider (to supplement ) :
wrt – “11. Alternatively, we hold that assessee even otherwise is entitled to the benefit of exemption under Section 54F(1) of the Act “……As the assessee OWNS TWO APARTMENTS of 500 square feet IN SAME BUILDING AND THEREFORE, IT HAS TO BE TREATED AS ONE RESIDENTIAL UNIT…………………….”
FONT< There is an apparent incongruity / incoherent thinking behind the reasoning given, on the ground of which the view taken by the HC has turned out to be in favour of the assessee / adverse to the Revenue. So much so, in the possible further proceedings the Revenue might be expected to accordingly address its arguments and additionally stress why the line of reasoning so adopted is logically faulty and apparently unsound.
INSTANT
It has been commonly believed that the 2014 Amendment of the provisions of the IT Act has effectively cried a halt to the till then ongoing / raging controversies on ‘the issue’. But lo ! the way the HC Judgment has been read and ‘discussed’ in a recently displayed write-up, on this website itself, – wrongly though in own view- appears to prophesy otherwise .
For MORE: Anyone interested may look up the related Post on FB / Linkedin discussing the most likely pitfalls / unwarranted litigation sure to ensue, if the 2014 Amendment were to be construed or viewed in such a manner as reading down the intent and implications of the referred amendment of the law !
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