ITO, WARD-32(4), NEW DELHI vs. SWATI OBEROI, NEW DELHI

ITA 4150/DEL/2018Status: DisposedITAT Delhi30 July 2021AY 2015-1610 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the assessee is considered the owner of the property for the purpose of the Act, even without a registered sale deed, if possession has been taken and full payment made. The benefit of deduction under Section 54F cannot be denied solely on the ground of non-registration of the conveyance deed.

What were the facts?

The assessee claimed deduction under Section 54F for purchasing a residential property. The Assessing Officer disallowed the deduction because a registered sale deed was not produced, relying on an inspector's report that the property was in someone else's possession.

What were the issues?

Whether deduction under Section 54F is allowable without a registered sale deed, and if possession and part payment are sufficient to establish ownership for claiming such deduction.

Which sections of the Income-tax Act were involved?

Section 54F,Section 2(47)(v)(vi)

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Cases cited in this judgment(4)Show list

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Income Tax Appellate Tribunal, DELHI BENCH ‘B’ : NEW DELHI

Before: SHRI ANIL CHATURVEDI & SHRI KULDIP SINGH

For Respondent: Shri Mahesh Thakur, Senior DR

PER KULDIP SINGH, JUDICIAL MEMBER :

Appellant, ITO, Ward 32 (4), New Delhi (hereinafter referred

to as ‘the Revenue’) by filing the present appeal sought to set aside

the impugned order dated 23.03.2018 passed by the Commissioner

of Income - tax (Appeals) - 11, Delhi qua the assessment year

2015-16 on the grounds inter alia that :-

“1. Whether the Ld. CIT (A) was justified in deleting the addition levied by the AO disallowing the deduction u/s 54F of the Act disregarding the facts of the case.

2 ITA No.4150/Del./2018

2.

Whether the Ld. CIT (A) was justified in deleting the addition levied by the AO disallowing the deduction u/s 54F of the Act since primary requirements

The order continues below.

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