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Section 54F4 Section 54F(3)3 Section 2(47)2

PYDIMUKKALA SUNDARA NALINI,VISAKHAPATNAM vs. THE INCOME TAX OFFICER, WARD-2(4), , VISAKHAPATNAM

In the result, appeal filed by the assessee is allowed

ITA 113/VIZ/2020[2011-12]Status: DisposedITAT Visakhapatnam23 Nov 2020AY 2011-12

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

For Appellant: Shri G.V.N. Hari, AdvocateFor Respondent: Smt.U.Mini Chandran,Sr.DR

Section 143(1)Section 148Section 2(47)Section 54FSection 54F(3)

house bearing No. 4-62-15 at China Waltair Village, Lawsons Bay Colony, Visakhapatnam comprising of 313 sq.yds. with a shed of 50 sq.ft. and claimed exemption u/sec.54F of the Act. Subsequently, the assessee had transferred the property to the developer, hence violated the provisions of section