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Section 54F Deduction Cannot Be Denied for Completion Certificate: ITAT Ahmedabad
Case Law Details
- Case Name
- Pravin Ashumal Keshwani Vs DCIT (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2022-23
- Courts
- All ITAT, ITAT Ahmedabad
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Pravin Ashumal Keshwani Vs DCIT (ITAT Ahmedabad)
Material Facts: The assessee sold a property on 19.07.2021 and had purchased a plot on 18.03.2021. After the sale, the assessee constructed a residential house on the plot and claimed deduction under Section 54F. The Assessing Officer denied the deduction on the ground that the plot had been purchased more than one year before the transfer of the capital asset.
Procedural History: The CIT(A) held that there was no bar on constructing a house on a plot purchased before one year from the transfer of the capital asset but sustained the disallowan...
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