https://www.taxtmi.com/caselaws?id=215579 Section 54F relief depends on whether the acquired property is in substance one residential dwelling unit; separate deeds do not, by themselves, defeat the claim where the premises function as a single unit, and joint purchase in the wife's name is not fatal if the consideration is borne by the assessee. Section 94(7) can be applied only when its statutory conditions are cumulatively met, including the correct purchase date of the mutual fund units; a genuine transaction is not a colourable device merely because it produces a tax loss. The commentary therefore treats factual verification of the property's configuration and the statutory purchase date as decisive. en-us Wed, 06 Jun 2012 00:00:00 +0530 Sat, 09 Apr 2016 10:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215579 Section 54F relief depends on whether the acquired property is in substance one residential dwelling unit; separate deeds do not, by themselves, defeat the claim where the premises function as a single unit, and joint purchase in the wife's name is not fatal if the consideration is borne by the assessee. Section 94(7) can be applied only when its statutory conditions are cumulatively met, including the correct purchase date of the mutual fund units; a genuine transaction is not a colourable device merely because it produces a tax loss. The commentary therefore treats factual verification of the property's configuration and the statutory purchase date as decisive. Case-Laws Income Tax Wed, 06 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215579