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36 results for “house property”+ Section 54Fclear

Sorted by relevance

Mumbai328Delhi307Chennai203Bangalore177Hyderabad117Jaipur94Ahmedabad93Pune82Kolkata58Indore45Chandigarh43Visakhapatnam36Surat30Karnataka24Cochin24Nagpur23Raipur18Lucknow16Patna13Cuttack12Rajkot12Jodhpur10Agra9Amritsar8Jabalpur6Ranchi5Dehradun5Calcutta4Telangana4Allahabad3SC2Punjab & Haryana1Varanasi1

Key Topics

Section 54F125Section 143(3)40Deduction27Capital Gains25Section 14823Exemption20Long Term Capital Gains17Section 4016Section 26315

SMT. KANCHARLAPALLI HEMALATHA,,VIJAYAWADA vs. THE ITO,, VIJAYAWADA

In the result, the appeal of the assessee is allowed

ITA 322/VIZ/2016[2010-2011]Status: DisposedITAT Visakhapatnam06 Nov 2018AY 2010-2011

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.322/Viz/2016 (धििाारण िर्ा/Assessment Year:2010-2011) Smt.Kancharlapalli Hemalatha Vs. Income Tax Officer Flat No.102, Sri Kesava Heights Ward-2(3) D.No.59A-21/3-5/2 Vijayawada Vizayanagar Colony Vijayawada [Pan :Bcmpk6735M] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

For Appellant: Shri D.L.Narasimha Rao, ARFor Respondent: Shri Suman Malik, DR
Section 139(1)Section 139(4)Section 54F

house property before the extended due date under section 139(4), exemption under section 54 would be allowed to appellant. 8.4. In the case of Pawan Kumar Garg V s. CIT (2009) 311 ITR 397 (P&H) Hon’ble Punjab and Haryana High Court held as follows : "Since section 54F

Showing 1–20 of 36 · Page 1 of 2

Section 143(2)13
Section 5413
Addition to Income13

THE ITO,, VIJAYAWADA vs. SRI TUMMALA VENKATA SURESH BABU, (HUF), VIJAYAWADA

In the result, the appeal filed by the revenue is dismissed

ITA 293/VIZ/2017[2010-2011]Status: DisposedITAT Visakhapatnam30 May 2018AY 2010-2011

Bench: Shri V. Durga Rao & Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.293/Vizag/2017 (धनधाारण िर्ा / Assessment Year: 2010-11) Ito Ward-2(3), Sri Tummala Venkata Vijayawada Suresh Babu (Huf) Vijayawada [Pan No.Aacht2890M] (अपीलाथी / Appellant) (प्रत्याथी / Respondent) अपीलाथी की ओर से / Appellant By : Shri V. Srinivasa Rao, Dr प्रत्याथी की ओर से / Respondent By : Shri Y. Surya Chandra Rao, Ar सुनिाई की तारीख / Date Of Hearing : 22.05.2018 घोर्णा की तारीख / Date Of Pronouncement : 30.05.2018 आदेश / O R D E R Per D.S. Sunder Singh:

For Appellant: Shri V. Srinivasa Rao, DRFor Respondent: Shri Y. Surya Chandra Rao
Section 54FSection 54F(4)

property within three years period from date of transfer (i.e. conditions of section 54F are fulfilled).” 8. Aggrieved by the order of the A.O., the revenue is in appeal before us. During the appeal hearing, the Ld. D.R. argued that for claiming u/s 54F of the Act, the assessee required to purchase a house

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), VIJAYAWADA vs. SIVA JYOTHI PALAM, VIJAYAWADA

In the result, appeal filed by the Revenue is dismissed

ITA 268/VIZ/2024[2017-18]Status: DisposedITAT Visakhapatnam09 Oct 2024AY 2017-18

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./ I.T.A. No.268/Viz/2024 (िनधा"रण वष" / Assessment Year: 2017-18) Assistant Commissioner Of Vs. Siva Jyothi Palam, Income Tax, Vijayawada. Circle-1(1), Pan: Bksps2554L Vijayawada. (अपीलाथ"/ Appellant) (""यथ"/ Respondent) C.O. No. 04/Viz/2024 (In आयकर अपील सं./ I.T.A. No.268/Viz/2024 (िनधा"रण वष" / Assessment Year: 2017-18) Siva Jyothi Palam, Vs. Assistant Commissioner Of Vijayawada. Income Tax, Pan: Bksps2554L Circle-1(1), Vijayawada. (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ" क" ओर से/ Appellant By : Sri C. Subrahmanyam, Ar ""याथ" क" ओर से / Respondent By : Dr. Satyasai Rath, Cit-Dr सुनवाई क" तारीख / Date Of Hearing : 01/10/2024 घोषणा क" तारीख/Date Of : 09/10/2024 Pronouncement O R D E R

For Appellant: Sri C. Subrahmanyam, ARFor Respondent: Dr. Satyasai Rath, CIT-DR
Section 143(2)Section 143(3)Section 54F

house property was registered in the name of the assessee but, the date of registration of the property cannot be taken as the criteria to grant exemption U/s. 54F of the Act. According to section

ARABOLU VENKATA NAGA DEEPATHI REPRESENTED BY POWER OF ATTORNEY HOLDER, N. SATYARAMANUJAMM ,VISAKHAPATNAM vs. INCOME TAX OFFICER(INTERNATIONAL TAXATION), VISAKHAPATNAM

In the result, the appeal fails and the same is hereby dismissed

ITA 178/VIZ/2018[2010-2011]Status: HeardITAT Visakhapatnam28 Mar 2022AY 2010-2011

Bench: Shri Laliet Kumar, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.178/Viz/2018 (ननधधारण वर्ा/ Assessment Year : 2010-11) Smt.Arabolu Venkata Naga Deepthi Vs. Income Tax Officer Rep. By Power Of Attorney Holder (International Taxation) Smt. N.Satyaramanujam Visakhapatnam Flat No.403, Dhanna Apartments Seethammadhara Visakhapatnam [Pan : Atcpa6413A] (अपीलाथी/ Appellant) (प्रत्यथी/ Respondent)

For Appellant: Shri I.Kama Sastry, ARFor Respondent: Shri SPG Mudaliar, DR
Section 143(2)Section 148Section 195Section 201(1)Section 234ASection 54Section 54F

section 54F cannot be denied to the assessee. The assessee has constructed the house in USA after the selling the property

CHAMARTHI MOUNIKA,,ELURU vs. INCOME TAX OFFICER, WARD-2, , ELURU

In the result, appeals of the assessee for A

ITA 308/VIZ/2018[2012-13]Status: DisposedITAT Visakhapatnam14 Aug 2019AY 2012-13

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.308/Viz/2018 & 309/Viz/2018 (ननधधारण वर्ा/Assessment Year : 2012-13 & 2013-14) Chamarthi Mounica Vs. Income Tax Officer Prop.Surya Ganesh Electricals Ward-2 D.No.22C-12-21 Eluru Ch.Ranga Rao Street Powerpet, Eluru [Pan : Apupc4598L] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar प्रत्यधथी की ओर से / Respondent By : Smt. Suman Malik, Dr सुनवधई की तधरीख / Date Of Hearing : 04.07.2019 घोर्णध की तधरीख/Date Of Pronouncement : 14 .08.2019 आदेश /O R D E R

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Smt. Suman Malik, DR
Section 142ASection 143(1)Section 148

section 54F prescribes appropriation of sale consideration of original asset towards purchase of new asset made within one year before the date of transfer of original asset, two years from the date of transfer or construction of new house property

CHAMARTHI MOUNIKA,ELURU vs. INCOME TAX OFFICER, WARD-2,, ELURU

In the result, appeals of the assessee for A

ITA 309/VIZ/2018[2013-14]Status: DisposedITAT Visakhapatnam07 Aug 2019AY 2013-14

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.308/Viz/2018 & 309/Viz/2018 (ननधधारण वर्ा/Assessment Year : 2012-13 & 2013-14) Chamarthi Mounica Vs. Income Tax Officer Prop.Surya Ganesh Electricals Ward-2 D.No.22C-12-21 Eluru Ch.Ranga Rao Street Powerpet, Eluru [Pan : Apupc4598L] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar प्रत्यधथी की ओर से / Respondent By : Smt. Suman Malik, Dr सुनवधई की तधरीख / Date Of Hearing : 04.07.2019 घोर्णध की तधरीख/Date Of Pronouncement : 14 .08.2019 आदेश /O R D E R

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Smt. Suman Malik, DR
Section 142ASection 143(1)Section 148

section 54F prescribes appropriation of sale consideration of original asset towards purchase of new asset made within one year before the date of transfer of original asset, two years from the date of transfer or construction of new house property

KALVA UMADEVI ,VISAKHAPATNAM vs. THE INCOME TAX OFFICER, WARD-1(4), , VISAKHPATNAM

In the result, appeal of the assessee is allowed

ITA 443/VIZ/2018[2009-10]Status: DisposedITAT Visakhapatnam12 Dec 2018AY 2009-10

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.443/Viz/2018 (धििाारण िर्ा/ Assessment Year: 2009-2010) Smt.Kalva Uma Devi Income Tax Officer 15-2-17, Srinilayam Ward-1(4) Maharanipeta Visakhapatnam Visakhapatnam [Pan : Aewpk3080J] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलार्थी की ओर से/ Appellant By : Shri C.V.S.Murthy, Ar प्रत्यार्थी की ओर से/ Respondent By : Smt. Suman Malik, Dr

For Appellant: Shri C.V.S.Murthy, ARFor Respondent: Smt. Suman Malik, DR
Section 1Section 148Section 50CSection 54Section 54F

section 54F to the assessee. As per Revenue, the AO has rightly allowed the benefit of deduction u/s 54F to the assessee to the extent of actual investment of Rs 24,60,000 in the new house property

SATYANARAYANA VISWANADHA,MACHILIPATNAM vs. INCOME TAX OFFICER, WARD-1, MACHILIPATNAM

In the result, appeal filed by the assessee is allowed

ITA 223/VIZ/2024[2012-13]Status: DisposedITAT Visakhapatnam19 Dec 2024AY 2012-13

Bench: Shri K. Narasimha Chary, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.223/Viz/2024 (निर्धारण वर्ा/ Assessment Year: 2012-13) Satyanarayana Viswanadha V. Ito – Ward – 1 Machilipatnam D.No. 21/411, Bhaskarapuram Krishna District - 521001 Machilipatnam – 521001 Andhra Pradesh Krishna District Andhra Pradesh [Pan: Aatpv0775E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

Section 143(2)Section 143(3)Section 148Section 54Section 54F

house within the period stipulated in Section 54F(1), if the assessee wants the benefit of Section 54F, then he should deposit the said capital gains in an account which is duly notified by the Central Government. In other words if he want of claim exemption from payment of income tax by retaining the cash, then the said amount

THE ITO,, GUNTUR vs. SRI KALARI VENKATA RASAIAH (HUF), GUNTUR

In the result, the appeal of the revenue is dismissed

ITA 400/VIZ/2016[2011-2012]Status: DisposedITAT Visakhapatnam04 Apr 2018AY 2011-2012

Bench: Shri V. Durga Rao & Shri D.S. Sunder Singh

For Appellant: Shri V. Srinivasa Rao, DRFor Respondent: Shri G.V.N. Hari, AR
Section 54F

house along with sheds. In the sale deed schedule, it was mentioned that the property was RCC building and sheds. As per provisions of section 54F

R.VENKATA DHANA LAKSHMI LEGAL HEIR OF LATE R. VENKATESWARA RAO,LINGAPALEM MANDAL vs. THE INCOME TAX OFFICER, WARD-2, , ELURU

In the result, appeal of the assessee is partly allowed for statistical purposes

ITA 121/VIZ/2020[2010-11]Status: DisposedITAT Visakhapatnam25 Jun 2021AY 2010-11

Bench: Shri N.K.Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleआयकर अपील सं./I.T.A.No.121/Viz/2020 (निर्धारण वर्ा/Assessment Year:2010-11) R.Venkata Dhana Lakshmi Vs. Income Tax Officer (Wife & Legal Heir Of Late Ward-2 R.Venkateswara Rao) Eluru Prop : Bharthi Teja Constructions D.No.3-158, Western Street Dharmajigudem Lingapalem Mandal West Godavari [Pan : Agfpr6873H] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

For Appellant: Shri C.Subrahmanyam, ARFor Respondent: Smt.Suman Malik, DR
Section 143(3)Section 54F

house within the period stipulated in Section 54F(1), if the assessee wants the benefit of Section 54F, then he should deposit the said capital gains in an account which is duly notified by the Central Government. In other words if he want of claim exemption from payment of income tax by retaining the cash, then the said amount

VELAGPUDI KRISHNA PRADAD,,VIJAYAWADA vs. THE ITO,, VIJAYAWADA

In the result, appeal filed by the assessee is allowed

ITA 69/VIZ/2017[2011-2012]Status: DisposedITAT Visakhapatnam07 Feb 2018AY 2011-2012

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Blevelagapudi Krishna Prasad, Vs. Ito, Ward-2(2), D.No. 32-15-110/4, Flat No.404, Vijayawada. 3Rd Floor, Kutumba Enclave, Moghalarajapuram, Vijayawada. Pan No. Aczpv 6726 B (Appellant) (Respondent)

For Appellant: Shri G.V.N. Hari – AdvocateFor Respondent: Shri D.J.P. Anand – Sr.DR
Section 54F

house’ in section 54F of the Act has to be understood in a sense that building should be of residential nature and ‘a’ should not be understood to indicate a single number and where an assessee had purchased two residential flats, is entitled to exemption u/s 54F of the Act, in respect of capital gains on sale of its property

THE DEPUTY COMMISSIONER OF INCOME TAX OFFICER (INTERNATIONAL TAXATION), VISAKHAPATNAM vs. BABU RAJENDRA PRASAD VADLAMUDI, GUNTUR

In the result, appeal of the Revenue is allowed

ITA 154/VIZ/2019[2011-12]Status: DisposedITAT Visakhapatnam23 May 2023AY 2011-12

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.154/Viz/2019 ("नधा"रणवष"/ Assessment Year : 2011-12) The Deputy Commissioner Of Vs. Sri Babu Rajendra Prasad Income Tax (International Vadlamudi, Taxation), Visakhapatnam. Guntur. (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Assessee By : Sri A. Chaitanya, Ar ""याथ"क"ओरसे/ Revenue By : Sri On Hari Prasada Rao, Sr. Ar सुनवाईक"तार"ख/ Date Of Hearing : 30/03/2023 घोषणाक"तार"ख/Date Of : 23/05/2023 Pronouncement O R D E R

For Appellant: Sri A. Chaitanya, ARFor Respondent: Sri ON Hari Prasada Rao
Section 142(1)Section 143(2)Section 143(3)Section 148Section 54F

property within a period of three as mandated in section 54F of the Act, the benefit of exemption U/s. 54F cannot be allowed to the assessee on this ground also. Therefore, the Ld. DR pleaded that the order of the Ld. AO be upheld. Per contra, the Ld. Authorized Representative [AR] submitted that the assessee only owns a Farm House

NATTA SURYA RAO,TANUKU vs. THE INCOME TAX OFFICER, WARD-1, TANUKU

In the result, appeal of the assessee is allowed

ITA 404/VIZ/2019[2009-10]Status: DisposedITAT Visakhapatnam04 Oct 2019AY 2009-10

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.404/Viz/2019 (ननधधारण वर्ा/Assessment Year : 2009-10) Natta Suryarao Vs. Income Tax Officer S/O Late Manganna Ward-1 D.No.2-20-5 Tanuku Ambati Vari Street Old Town, Tanuku [Pan :Ahrpn 9648M] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri.Y.Ratnakar, Ar प्रत्यधथी की ओर से / Respondent By : Smt.Suman Malik, Dr सुनवधई की तधरीख / Date Of Hearing : 05.09.2019 घोर्णध की तधरीख/Date Of Pronouncement : 04 .10.2019 आदेश /O R D E R

For Appellant: Shri.Y.Ratnakar, ARFor Respondent: Smt.Suman Malik, DR
Section 148Section 45(2)Section 54F

section 54F prescribes appropriation of sale consideration of original asset towards purchase of new asset made within one year before the date of transfer of original asset, two years from the date of transfer or construction of new house property

SATHI TRINATHA REDDY,EAST GODAVARI DIST vs. PRINCIPAL COMMISSIONER OF INCOME TAX(CENTRAL), VISAKHAPATNAM

In the result, appeal of the assessee is allowed

ITA 8/VIZ/2023[2013-14]Status: DisposedITAT Visakhapatnam31 Mar 2023AY 2013-14

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Ble

For Appellant: Sri MV Prasad, CAFor Respondent: Sri MN Murthy Naik, CIT-DR
Section 132Section 139(1)Section 142(1)Section 143(3)Section 153ASection 263Section 54FSection 54F(1)Section 54F(4)

house within the time prescribed U/s. 54F(1) of the Act, the assessee could not be denied the benefit of section 54F of the 5 Act. For this proposition and in support of his argument, the Ld. AR relied on the following case laws: (i) Hon’ble Bombay High Court judgment in the case of CIT (Central), Nagpur vs. Murli

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)

section 54F which stipulates that residential house purchased by the assessee on which deduction u/sec. 54F is claimed should not be transferred within a period of three years from the date of purchase or construction. Since the assessee has transferred the property

YALAMANCHILI NEELIMA,,GUNTUR vs. THE INCOME TAX OFFICER, WARD-2(2),, GUNTUR

In the result, appeal of the assessee is partly allowed for statistical purposes

ITA 506/VIZ/2019[2016-17]Status: DisposedITAT Visakhapatnam15 Dec 2022AY 2016-17

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Ble

For Appellant: Sri GVN Hari, AdvocateFor Respondent: Sri MN Murthy Naik, CIT-DR
Section 142(1)Section 144Section 148Section 2(47)Section 46ASection 53A

54F. Capital gain on transfer of certain. capital assets not to be charged in case of investment in residential house.—(1) Where, in the case of an assessee being an individual, the capital gain arises from the transfer of any long-term capital asset, not being a residential house (hereafter in this section referred to as the original asset

GRANDHI NAGESWARA RAO (HUF),,ANAKAPALLE vs. THE ACIT,, VISAKHAPATNAM

In the result, the appeal filed by the assessee is allowed

ITA 142/VIZ/2017[2012-2013]Status: DisposedITAT Visakhapatnam09 Feb 2018AY 2012-2013

Bench: Shri V. Durga Rao & Shri D.S. Sunder Singh

For Appellant: Shri B.V. Rao, AR
Section 132Section 148Section 54F

house for which the source was funded by the HUF partially and balance was met out of borrowed funds. One of the co-parcener had acquired the property and got registered in the name 3 Grandhi Nageswara Rao (HUF), Anakapalli of the co-parcener Mr. G.R. Murthy Setty, S/o Nageswara Rao. Since HUF is not entitled for the loan

SRINIVASA RAO CHUNDURI,TANUKU vs. THE INCOME TAX OFFICER, WARD-2, TANUKU

In the result, appeal of the assessee is allowed

ITA 235/VIZ/2024[2013-14]Status: DisposedITAT Visakhapatnam15 May 2025AY 2013-14

Bench: Shri Ravish Sood, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A.No.235/Viz/2024 (निर्धारण वर्ा/ Assessment Year: 2013-14) Srinivasa Rao Chunduri V. Income Tax Officer – Ward – 2 D.No. 33-8-20(4), Satya Homes Income Tax Office Kanchi Raju Vari Street Aayakar Bhavan Babu Gari Street, Tanuku – 534211 Sajjapuram, Tanuku – 534211 Andhra Pradesh Andhra Pradesh [Pan:Adwpc3135D] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) करदाता का प्रतततितित्व/ Assessee Represented By : Shri Gvn Hari, Advocate राजस्व का प्रतततितित्व/ Department Represented By : Dr. Aparna Villuri, Sr. Ar

Section 143(2)Section 147Section 148Section 154Section 250Section 50CSection 54F

property is Rs. 1,70,31,960/- and since the Chivatam Village is under the Municipal Limits of Tanuku Municipality, the provisions of section 50C of the Act are applicable. The assessee has not filed any return of income for the A.Y. 2015-16. Therefore, Ld. Assessing Officer [hereinafter in short “Ld. AO"] observed that there is an “income escaping

CHINTAPALLI SUBHAKARA RAO(HUF) ,VIJAYAWADA vs. ACIT, CIRCLE-(2)1, VIJAYAWADA

In the result, appeal of the assessee is allowed

ITA 554/VIZ/2017[2008-09]Status: DisposedITAT Visakhapatnam28 Nov 2018AY 2008-09

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.554/Viz/2017 (धििाारण िर्ा/ Assessment Year :2008-09) Dr.Chintapalli Subhakara Rao (Huf) Vs. Asst. Commissioner Of Represented By Smt. C.Leela (Kartha) Income Tax D.No.29-10-1, Narasimhanaidu Street Circle-2(1) Suryaraopet Vijayawada Vijayawada [Pan : Aadhc1772N] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलार्थी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar प्रत्यर्थी की ओर से / Respondent By : Smt. Suman Malik, Dr

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Smt. Suman Malik, DR
Section 143(3)Section 54F

house acquired in one of the co- parceners name, from the funds of the HUF is entitled for deduction u/s 54F. For the sake of clarity and convenience, we extract relevant part of the order of the Tribunal in the case cited in para No.6 which reads as under : “6. We have heard both the parties, perused the materials available

KAKILETI SATYANARAYANA,MANDAPETA vs. THE INCOME TAX OFFICER, WARD-1, AMALAPURAM

In the result, appeal filed by the assessee is allowed

ITA 673/VIZ/2019[2004-2005]Status: DisposedITAT Visakhapatnam26 Nov 2020AY 2004-2005

Bench: Shri V. Durga Rao, Hon’Ble

For Appellant: Shri G.V.N. Hari, AdvocateFor Respondent: Shri D.K. Sonawal, CIT-DR
Section 143(3)Section 153CSection 54F

section 54F, the assessee is supposed to acquire a residential house within a period of one year before or two years after the date on which the transfer took place purchased, or has within a period of three years after that date constructed a residential house, the capital gain arose out of the transaction will be taxed accordingly