VINIT BIPINCHANDRA SHAH,AHMEDABAD vs. THE ITO, WARD-1(1)(3) (PREVIOUSLY WARD-5(2)(4)), AHMEDABAD

In the result, appeal of the assessee is partly allowed

Bench: Shri T.R. Senthil Kumar & Shri Narendra Prasad Sinhaassessment Year: 2015-16

property at Noble Antrix was acquired by him. The Assessing Officer noticed that a deduction under Section 54F of the Act was available only in the case where the assessee owns only one residential house other than new asset acquired by the assessee. Since this condition was not fulfilled, the Assessing Officer disallowed the deduction claimed under Section

ACIT CENTRAL CIRCLE 1(3), AHMEDABAD, AHMEDABAD vs. RAKESHKUMAR MAHENDRAKUMAR SHAH , AHMEDABAD

The appeal of the assessee stand dismissed, and the order of the CIT(Appeals) is hereby affirmed in toto