Krishnappa Jayaramaiah v. ITO (2021) 189 ITD 15 (Bang.)(Trib.)

S. 54F : Capital gains-Exemptions-investment in house property in name of assessee’s widowed daughter was allowable-Direct nexus between sale consideration received and investment in house property-Entitle to exemption. [S. 45]

Held that, there is nothing in S.54F to show that house should be purchased in name of assessee only. Since there was a direct nexus between sale consideration received and utilized investing in residential house in name of married widowed daughter of assessee, exemption u/s. 54F on amount invested in purchase of residential house in daughter’s name is allowed. (AY.  2016-17)