42 RamdasSitaramPatil vs. ACIT
TS-618-ITAT-2024(PUN)
ITA No. 621/Pune/2022
AY: 2016-17
Date of Order: 7th August, 2024
Sections: 54 and 54F
Deduction under Sections 54 and 54F can be claimed simultaneously qua investment in the same new asset.
The covenants in the sale deed executed and registered are conclusive in the absence of any evidence to the contrary.
The crucial date for the purpose of determination of date of purchase for the purpose of section 54 is the date when the possession and control of the property is given to the purchaser’s hands.
FACTS