https://www.taxtmi.com/caselaws?id=447872 ITAT Delhi allowed the appeal where deduction under section 54 was initially denied because the residential house was registered in the spouse's name rather than the assessee's name. The tribunal relied on Delhi HC precedents in CIT vs. Kamal Wahal and CIT vs. Ravinder Kumar Arora, which held that property purchased in spouse's name qualifies for section 54F deduction. The tribunal applied the same principle to section 54, emphasizing purposive construction over literal interpretation and noting that beneficial provisions should be interpreted liberally in favor of taxpayers. en-us Thu, 04 Jan 2024 00:00:00 +0530 Fri, 05 Jan 2024 10:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447872 ITAT Delhi allowed the appeal where deduction under section 54 was initially denied because the residential house was registered in the spouse's name rather than the assessee's name. The tribunal relied on Delhi HC precedents in CIT vs. Kamal Wahal and CIT vs. Ravinder Kumar Arora, which held that property purchased in spouse's name qualifies for section 54F deduction. The tribunal applied the same principle to section 54, emphasizing purposive construction over literal interpretation and noting that beneficial provisions should be interpreted liberally in favor of taxpayers. Case-Laws Income Tax Thu, 04 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447872