Shri D. Ravikumar,, Chennai vs Acit, Ncc-14,, Chennai on 27 July, 2022
In this view of the matter, and by respectfully following
decision of the Hon'ble Karnataka High Court in the case of
Navin Vs, ITO (supra), we are of the considered view that the
assessee is entitled for deduction u/s.54F of the Income Tax
Act, 1961 in respect of amount invested for purchase of
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ITA No.3314/Chny/2019
another residential property. Hence, we direct the Assessing
Officer to delete additions made towards disallowance of
deduction claimed u/s.54F of the Income Tax Act, 1961.