https://www.taxtmi.com/caselaws?id=795191 Section 54 does not require a replacement residential property to be acquired exclusively in the taxpayer's name. Where the taxpayer retains joint title, control and domain over property purchased with a spouse, and the investment originates from sale proceeds of the original property, including sums transferred to the spouse, joint ownership does not by itself defeat the deduction. Deemed ownership and spousal income-clubbing provisions support this treatment. A precedent involving property acquired solely in an adopted son's name is distinguishable because the taxpayer had relinquished all rights to a third person. Accordingly, joint purchase with a spouse does not preclude the claimed Section 54 deduction. en-us Mon, 15 Jun 2026 00:00:00 +0530 Sat, 18 Jul 2026 08:27:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795191 Section 54 does not require a replacement residential property to be acquired exclusively in the taxpayer's name. Where the taxpayer retains joint title, control and domain over property purchased with a spouse, and the investment originates from sale proceeds of the original property, including sums transferred to the spouse, joint ownership does not by itself defeat the deduction. Deemed ownership and spousal income-clubbing provisions support this treatment. A precedent involving property acquired solely in an adopted son's name is distinguishable because the taxpayer had relinquished all rights to a third person. Accordingly, joint purchase with a spouse does not preclude the claimed Section 54 deduction. Case-Laws Income Tax Mon, 15 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795191