Tag Archives: house

Exemption U/s. 54F allowed even if investment in mutual fund made prior to purchase of residential house : ITAT

By | April 20, 2019
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Held :- In our view deposit of money by the assessee inter-alia in mutual fund prior to purchase of residential house albeit will not make any difference if the assessee had purchased the residential house within the time provided by the Act ACIT Vs Shri. Sunil Bandacharya Joshi (ITAT Bengaluru) Appeal Number : ITA No.… Read More »

Sec. 54 deduction allowed on purchase of flats even if investment is not from sale proceeds : ITAT

By | April 18, 2019
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 we do not find any restriction/condition imposed mandating investment of the capital gain/sale proceeds towards purchase of new house for claiming deduction under section 54 of the Act. What the provision postulates is, for claiming deduction the assessee has to make investment in purchase of a new house one year before or two years after… Read More »