Deduction claimed u/s 54 of income tax act

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 December 2017 Whether deduction claimed under section 54 of IT Act disallowed by the assessee during the course of assessment u/s 143(3) of Income Tax Act, However, assessee has asked for the deduction u/s section 54 in respect of another house property purchased complying the requirement of section 54.

Is there is any judicial pronouncement to support the assesee's claim
Please reply early.

Thanks
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
16 December 2017 There is no case law to my mind to support the switching over of reinvested asset.

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