https://www.taxtmi.com/caselaws?id=424127 The Tribunal allowed the appeal of the assessee regarding the grant of deduction under Section 54F of the Income Tax Act, 1961. The Tribunal held that joint ownership of the property did not disqualify the assessee from claiming the exemption under Section 54F. It was determined that the property in question was under construction and possession was received after the relevant date, thus not meeting the conditions for taxation under "Income from house property." Consequently, the Tribunal directed the Assessing Officer to grant the consequential relief to the assessee. en-us Tue, 14 Jun 2022 00:00:00 +0530 Wed, 22 Jun 2022 09:16:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424127 The Tribunal allowed the appeal of the assessee regarding the grant of deduction under Section 54F of the Income Tax Act, 1961. The Tribunal held that joint ownership of the property did not disqualify the assessee from claiming the exemption under Section 54F. It was determined that the property in question was under construction and possession was received after the relevant date, thus not meeting the conditions for taxation under "Income from house property." Consequently, the Tribunal directed the Assessing Officer to grant the consequential relief to the assessee. Case-Laws Income Tax Tue, 14 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424127