Purchased Flat in Minor Daughter’s Name, Deduction U/S 54F Allowed by ITAT

N. Ram Kumar Vs ACIT (ITAT Hyderabad) Purchased Flat in Minor Daughter’s Name, Deduction U/S 54F Allowed by ITAT: N. Ram Kumar Vs ACIT (ITAT Hyderabad) Introduction: The Income Tax Appellate Tribunal (ITAT) Hyderabad recently delivered a significant judgment in the case of N. Ram Kumar vs. ACIT concerning the eligibility of an assessee for exemption under Section 54F of the Income Tax Act, 1961. The central issue revolved around the assessee’s claim for deduction under Section 54F for investing the sale proceeds of shares in a residential flat purchased in the name of his minor da...