No Section 54F exemption on House purchased by Wife from her fund

Dilip B. Mundada Vs DCIT (ITAT Pune)

Jurisdictional High Court and other Hon’ble High Courts and ITAT Pune have held that for availing the benefit of deduction u/s 54F the new asset shall be purchased in the name of the assessee. Applying the said proposition of law to the present case, we hold that the Flat No. 401 is not in the name of the assessee, hence it is not eligible for exemption u/s 54F of the Act.

The assessee claimed that the amount for Flat No. 401 was invested by him. Howe

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