https://www.taxtmi.com/caselaws?id=304607 The Tribunal ruled in favor of the assessee, holding that the construction of a new residential house need not be solely in the name of the assessee as per section 54F of the Income Tax Act, 1961. The decision emphasized the principle of purposive construction and the objective of encouraging investment in residential properties, aligning with previous judicial findings. The Tribunal reversed the CIT(A)'s decision and directed the AO to allow the assessee's claim, ultimately allowing the appeal. en-us Thu, 26 Mar 2015 00:00:00 +0530 Mon, 10 Oct 2022 20:58:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304607 The Tribunal ruled in favor of the assessee, holding that the construction of a new residential house need not be solely in the name of the assessee as per section 54F of the Income Tax Act, 1961. The decision emphasized the principle of purposive construction and the objective of encouraging investment in residential properties, aligning with previous judicial findings. The Tribunal reversed the CIT(A)'s decision and directed the AO to allow the assessee's claim, ultimately allowing the appeal. Case-Laws Income Tax Thu, 26 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304607