https://www.taxtmi.com/caselaws?id=205661 The High Court upheld the Income Tax Appellate Tribunal's decision to allow the benefit of deduction claimed under Section 54F of the Income Tax Act, 1961 for a Hindu Undivided Family (HUF) despite the properties being purchased in the names of individual members. The Court found that the properties actually belonged to the HUF, as evidenced by the purchase from the HUF account, the HUF's permanent account number in the documents, and income assessments in the HUF's hands. The appeal by the Revenue challenging the Tribunal's decision was dismissed, with no costs awarded. en-us Thu, 04 Aug 2011 00:00:00 +0530 Thu, 15 Sep 2011 14:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205661 The High Court upheld the Income Tax Appellate Tribunal's decision to allow the benefit of deduction claimed under Section 54F of the Income Tax Act, 1961 for a Hindu Undivided Family (HUF) despite the properties being purchased in the names of individual members. The Court found that the properties actually belonged to the HUF, as evidenced by the purchase from the HUF account, the HUF's permanent account number in the documents, and income assessments in the HUF's hands. The appeal by the Revenue challenging the Tribunal's decision was dismissed, with no costs awarded. Case-Laws Income Tax Thu, 04 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205661