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HomeDirect TaxS. 54 Deduction Can’t Be Restricted Merely Because New House Is Purchased...

S. 54 Deduction Can’t Be Restricted Merely Because New House Is Purchased Jointly With Spouse: ITAT

Direct Tax

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By Mariya Paliwala
S. 54 Deduction Can’t Be Restricted Merely Because New House Is Purchased Jointly With Spouse: ITAT

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The Chandigarh Bench of the Income Tax Appellate Tribunal (ITAT) has held that an assessee cannot be denied the full benefit of deduction under Section 54 of the Income Tax Act merely because the new residential property was purchased jointly with a spouse, when the entire investment was made from the assessee’s own funds.  The…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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