Partial interest cannot be considered as full ownership to deny Section 54F exemption 

V.R. Usha Vs ITO (ITAT Chennai)

Introduction: In the case of V.R. Usha Vs ITO, an important issue arose concerning the denial of exemption under Section 54F of the Income-tax Act, 1961 (the Act). The crux of the matter was whether the assessee, V.R. Usha, could claim Section 54F exemption when she held only partial interest in a property. This article delves into the details of the case, the arguments presented, and the final decision.

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