https://www.taxtmi.com/caselaws?id=470366 Section 54F deduction can apply to investment in a residential property purchased from a spouse for adequate consideration, as the provision contains no bar on such a transaction. An HUF's assignment of property to the spouse falls outside the exclusion for distributions on total or partial HUF partition under Section 47(i), where it is unrelated to a partition, and gives the spouse an independent interest in the property. Payment through banking channels prevents the investment from being treated as circular merely because the purchaser had consented to the HUF transfer as a member. en-us Fri, 13 Sep 2024 00:00:00 +0530 Fri, 09 Oct 2026 15:14:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470366 Section 54F deduction can apply to investment in a residential property purchased from a spouse for adequate consideration, as the provision contains no bar on such a transaction. An HUF's assignment of property to the spouse falls outside the exclusion for distributions on total or partial HUF partition under Section 47(i), where it is unrelated to a partition, and gives the spouse an independent interest in the property. Payment through banking channels prevents the investment from being treated as circular merely because the purchaser had consented to the HUF transfer as a member. Case-Laws Income Tax Fri, 13 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470366