Section 54/54F exemption eligible on investment in new property in Wife’s name

Shri Ramphal Hooda Vs ITO (ITAT Delhi)

Whether the exemption under Section 54F is extendable to the assessee for the total consideration paid by him, for the purchase of the new asset (the residential property) in the joint name or the exemption would be entitled to the extent of the share of the assessee in the said purchased property. – Held that – When whole of the purchase consideration has been paid by the assessee and not even a single penny has been contributed by the wife in the purchase of the house, the

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