Sec. 54F Allowability of investment in new residential property in the name of spouse

Kaushal Kishore Maheshwari Vs ACIT (ITAT Delhi) What is important is that for deduction under section 54F of the Act that investment in the new property has to be made by the assessee. But in the present case before us, though the property has been purchased in the name of the wife of the assessee but the investment in purchase of the property has been made out of the loan sanctioned to the wife of the assessee and the assessee has joined name in the loan sanction letter. In the circumstances, the issue before us is whether the investment in the new property can be treated as investment made b...