No Section 54F Exemption for Property used for Religious purposes: ITAT Hyderabad

ACIT Vs Iqbal Ali Khan (ITAT Hyderabad) Introduction: In a recent legal tussle at ITAT Hyderabad, the ACIT Vs Iqbal Ali Khan case sheds light on the complexities surrounding Section 54F exemptions. This article delves into the intricacies of the case, analyzing the grounds of dispute and the ultimate decision rendered by the Income Tax Appellate Tribunal. Background and Grounds Raised: The appeal, filed by the Revenue, challenges the order of the CIT (A)-6, Hyderabad, dated 27.02.2020, pertaining to the assessment year 2013-14. Key grounds raised include: 1. Contrary Order: The Revenue conten...