Section 54F deduction eligible against new residential house acquired outside India

Rahil Mahesh Kumar Nizamuddin Vs DCIT (ITAT Bangalore)

Held that deduction under section 54F is available against new residential house acquired outside India as provisions of section 54F doesn’t use the word ‘in India’.

Facts-

Deduction u/s 54F of the Act in respect of investment of Rs.8,74,20,000/- in purchase of a residential building in Newton MA, USA. The assessee claimed the above deduction before the AO. The

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