25 February 2015
for getting exemption u/s 54 or sec 54f whether residential house can be purchased in the name of any relative as it is only necessary to invest the amount
25 February 2015
Yes there are many judgments on this issue in which a house purchased even in the name of wife or jointly in the name of wife have been accepted if all the conditions u/s 54 and 54F are fulfilled. In one of such judgments it was held that the assesee is entitled to benefit u/s 54 since he has not invested in the name of any stranger but in the name of his wife only. Refer Delhi HC judgments in CIT Vs Ravinder Kumar Arora and CIT Vs Kamal Wahal.
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