{"id":52612,"date":"2025-04-05T11:04:29","date_gmt":"2025-04-05T05:34:29","guid":{"rendered":"https:\/\/itatonline.org\/digest\/abdul-rahim-suleman-ghaswala-v-dy-cit-2024-227-ttj-392-233-dtr-297-38-nypttj-12-mum-trib\/"},"modified":"2025-04-05T11:04:29","modified_gmt":"2025-04-05T05:34:29","slug":"abdul-rahim-suleman-ghaswala-v-dy-cit-2024-227-ttj-392-233-dtr-297-38-nypttj-12-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/abdul-rahim-suleman-ghaswala-v-dy-cit-2024-227-ttj-392-233-dtr-297-38-nypttj-12-mum-trib\/","title":{"rendered":"Abdul Rahim Suleman Ghaswala v. Dy.CIT (2024) 227 TTJ 392 \/ 233 DTR 297 \/ 38 NYPTTJ 12 (Mum) (Trib)"},"content":{"rendered":"<p>AO denied benefit of section 54F\u00a0 on the ground that the \u00a0assessee is\u00a0 \u00a0owning 16.67 per cent rights of six flats. CIT(A) affirmed the order of the AO. On appeal the Tribunal held that, exemption cannot denied on the ground that the assessee also \u00a0jointly owning 16.67 per cent rights in six flats. Tribunal held that joint ownership\/part ownership \u00a0cannot be treated as absolute ownership in the absence of any specific words \u00a0in the section 54F of the Act. Followed\u00a0 ITO v. Rasiklal N. Satra (2006) 100 TTJ 1039\/ 98 ITD 335 (Mum)(Trib), Ashok G. Chauhan v. ACIT (2019) 200 TTJ 659\/ 105 taxmann.com 204 (Mum)(Trib), Anant R. Gawande v. ACIT (2022) 144 taxmann.com 127 (Mum)(Trib)\u00a0\u00a0 (AY-2016-17)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.54F : Capital gains-Investment in a residential house-Jointly owning 16-67%  rights in six flats-Own does not include partly owned-Exemption cannot be denied [S. 32, 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-52612","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-dGA","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/52612","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=52612"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/52612\/revisions"}],"predecessor-version":[{"id":52613,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/52612\/revisions\/52613"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=52612"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=52612"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=52612"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}