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Case Law Details

Case Name : I.T.O. Vs Shri Roop Narayan Sharma (ITAT Jaipur)
Related Assessment Year : 2007-08
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I.T.O. Vs Shri Roop Narayan Sharma (ITAT Jaipur)

Conclusion: Deduction U/s 54F was available to assessee in respect of full value of consideration received and not on the value taken by the Sub-Registrar for the purposes of stamp duty.

Held: Assessee had sold agricultural land and invested for purchase of residential house. He claimed exemption U/s 54F in respect of actual amount of sale consideration received by him and not on the amount adopted for stamp duty purposes. However, AO a

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