Karnataka High Court’s Judgement on Section 54F of the Income Tax Act: Navin Jolly vs ITO

COURT: Karnataka High Court

CORAM: Alok Aradhe J, M. Nagaprasanna J


GENRE: Domestic Tax

CATCH WORDS: Exemption, Residential House

COUNSEL: A. Shankar

DATE: June 18, 2020 (Date of pronouncement)

DATE: June 20, 2020 (Date of publication)

AY: 2006-07


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Section 54F: In determining whether the assessee owns more than one residential property, the usage of the property has to be considered. If an apartment is sanctioned for residential purposes but is in fact being used for commercial purposes as a serviced apartment, it has to be treated as commercial property. Alternatively, several independent residential units in the same building have to be treated as one residential unit and there is no impediment to allowance of exemption u/s 54F(1).

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