https://www.taxtmi.com/caselaws?id=470366 Section 54F does not bar acquisition of a new residential property from a spouse where the purchase is for adequate consideration. An HUF's assignment of property to the spouse was not a distribution on total or partial partition and therefore constituted a transfer outside the exclusion for such distributions. The spouse consequently acquired the property independently. As the later purchase consideration was paid through banking channels at arm's length, the assessee's consent to the earlier HUF transfer did not make the arrangement circular. Deduction under Section 54F was therefore available. en-us Fri, 13 Sep 2024 00:00:00 +0530 Fri, 24 Jul 2026 21:47:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470366 Section 54F does not bar acquisition of a new residential property from a spouse where the purchase is for adequate consideration. An HUF's assignment of property to the spouse was not a distribution on total or partial partition and therefore constituted a transfer outside the exclusion for such distributions. The spouse consequently acquired the property independently. As the later purchase consideration was paid through banking channels at arm's length, the assessee's consent to the earlier HUF transfer did not make the arrangement circular. Deduction under Section 54F was therefore available. Case-Laws Income Tax Fri, 13 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470366