{"id":36098,"date":"2023-08-28T16:40:56","date_gmt":"2023-08-28T11:10:56","guid":{"rendered":"https:\/\/itatonline.org\/digest\/jayawant-gajanan-sutar-v-ito-2022-96-itr-3-sn-pune-trib\/"},"modified":"2023-08-28T16:40:56","modified_gmt":"2023-08-28T11:10:56","slug":"jayawant-gajanan-sutar-v-ito-2022-96-itr-3-sn-pune-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/jayawant-gajanan-sutar-v-ito-2022-96-itr-3-sn-pune-trib\/","title":{"rendered":"Jayawant Gajanan Sutar v. ITO (2022) 96 ITR 3 (SN) (Pune) (Trib)"},"content":{"rendered":"<p>The assessee sold certain immovable property jointly held with two other members and received his share. He claimed exemption under section\u00a054\u00a0of\u00a0 the Act having purchased a new flat. The Assessing Officer denied the exemption because the new flat was purchased by the assessee in the name of the assessee\u2019s wife. The Commissioner (Appeals) affirmed this. The Tribunal followed\u00a0 the view taken by the jurisdictional High Court. Prakash v \u00a0ITO\u00a0(2009) 312 ITR 40 (Bom.)(HC)\u00a0\u00a0 Not followed,\u00a0 CIT v. Shri Kamal Wahal (2013) 351 ITR 4 (Delhi) (HC), CIT v. Gurnam Singh (2010) 327 ITR 278 (P&amp;H(HC).\u00a0 \u00a0Denial of exemption was affirmed. (AY. 2015-16)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 54 : Capital gains-Profit on sale of property used for residence-Purchase of residential unit in name of  assessee\u2019s wife-Not entitled to exemption. [S. 45] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-36098","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-9oe","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/36098","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=36098"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/36098\/revisions"}],"predecessor-version":[{"id":36099,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/36098\/revisions\/36099"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=36098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=36098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=36098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}