PRASHANT CHANDULAL PARIKH, HUF,AHMEDABAD vs. THE ACIT, CIRCLE-5(2)(1), AHMEDABAD
In the result, the appeal of the assessee is partly allowed
ITA 369/AHD/2024[2017-18]Status: DisposedITAT Ahmedabad29 Nov 2024AY 2017-18
Bench: Shri T.R. Senthil Kumar & Shri Narendra Prasad Sinhaआयकर अपील सं./I.T.A. No. 369/Ahd/2024 ("नधा"रण वष" / Assessment Year : 2017-18) बनाम/ Prashant Chandulal Assistant Commissioner Of Parikh, Huf Income Tax Vs. C/O M/S. Chandulal J Circle 5(2)(1), Ahmedabad Parikh, 303 Ushadep Complex, Nr. Navrangpura, Railway Crossing, Navrangpura, Ahmedabad 380009 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aadhp9467M (Appellant) .. (Respondent) अपीलाथ" ओर से /Appellant By : Shri Rajendera K Shah, A.R. ""यथ" क" ओर से/Respondent By : Shri Rignesh Das, Sr. Dr Date Of Hearing 19/11/2024 /11/2024 Date Of Pronouncement
For Appellant: Shri Rajendera K Shah, A.RFor Respondent: Shri Rignesh Das, Sr. DR
Section 143(3)Section 54F
property as on 01.04.1981 @ 6.20 per sq. mtr. Further, the assessee had claimed deduction of Rs.2.51 Crore under Section 54F of the Income Tax Act, 1961 (in short ‘the Act’) in respect of residential house purchased during the year. It was found by the AO that the actual construction on the purchased land was confined to the area
