https://www.taxtmi.com/caselaws?id=20219 The High Court of Gujarat ruled that the benefit under section 54 of the Income-tax Act, 1961, is meant for individuals and does not apply to Hindu undivided families. The court interpreted the term "assessee" in the section and concluded that it referred to individuals capable of using a building as their own residence, excluding Hindu undivided families. The court emphasized the legislative history and intent behind the provision, determining that specific provisions were made when extending benefits to Hindu undivided families. Consequently, the court dismissed the assessees' claim for exemption under section 54, favoring the Revenue. en-us Wed, 18 Aug 1993 00:00:00 +0530 Thu, 12 Nov 2009 14:22:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20219 The High Court of Gujarat ruled that the benefit under section 54 of the Income-tax Act, 1961, is meant for individuals and does not apply to Hindu undivided families. The court interpreted the term "assessee" in the section and concluded that it referred to individuals capable of using a building as their own residence, excluding Hindu undivided families. The court emphasized the legislative history and intent behind the provision, determining that specific provisions were made when extending benefits to Hindu undivided families. Consequently, the court dismissed the assessees' claim for exemption under section 54, favoring the Revenue. Case-Laws Income Tax Wed, 18 Aug 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20219