SUREKHA DILIPRAO DHOLE,NAGPUR vs. ITO WARD 5(3), NAGPUR

ITA 659/NAG/2025Status: DisposedITAT Nagpur10 September 2026AY 2015-164 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal found that one of the properties was owned by a company, not the assessee. The other property was jointly owned, but the assessee had not contributed to its purchase. Therefore, the assessee was considered to own only one house property at the relevant time.

What were the facts?

The assessee claimed a deduction under Section 54F for purchasing a new house. The revenue authorities denied this deduction, alleging the assessee owned more than one house property at the time of transfer.

What were the issues?

Whether the assessee owned more than one residential house property at the time of transfer, disqualifying them from claiming deduction under Section 54F.

Which sections of the Income-tax Act were involved?

Section 54F

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, NAGPUR ‘SMC’ BENCH, NAGPUR

Before: DR.MANISH BORAD

For Appellant: Shri Naresh Jakhotia
For Respondent: Shri Abhay Shende
Hearing: 27.07.2026Pronounced: 10.09.2026

The captioned appeal at the instance of assessee pertaining to A.Y. 2015-16 is directed against the order dated 20.08.2025 framed by National Faceless Appeal Centre, Delhi (NFAC) arising out of Assessment Order dated 30.03.2022 passed u/s. 147 r.w.s.144B of the Income Tax Act, 1961 (in short ‘the Act’).

2.

The sole grievance of the assessee is against the deduction u/s.54F of the Act by the Revenue authorities alleging that assessee owned more than one house property making the assessee disentitled for claiming deduction u/s.54F of the Act.

3.

I have heard the rival submissions and perused the record placed before me. I observe that

The order continues below.

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