Capital gain
Rajeev Rawat (1 Points)
22 June 2020
Is capital gain deduction applicable on purchase of property to assessee's child name. If not which section.
2 Replies
Sudiesh
(Audit Assistant)
(527 Points)
Replied 22 June 2020
According to my limited knowledge , there is only a condition saying it should be "invested", Law not saying it should be invested in assesse's own name. I think there is case law relating to this in which the assessee invested the amount in spouse name and that allowed by that decision.
Bhavin Shah
(Chartered Accountant)
(821 Points)
Replied 22 June 2020
You can reply on following judgements -
CIT v Ravindar Kumar Arora [2012] 342 ITR 38 (Delhi)
Shri Rampal Hooda (ITA No. 8478/Del/2019
CIT v Ravindar Kumar Arora [2012] 342 ITR 38 (Delhi)
Shri Rampal Hooda (ITA No. 8478/Del/2019
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