COMMISSIONER OF INCOME TAX Vs. KAMAL WAHAL

JUDGEMENT

(1.) THIS is an appeal filed by the Commissioner of Income Tax-XII, New Delhi under Section 260A of the Income Tax Act, 1961 and it is directed against the order of the Income Tax Appellate Tribunal dated 20.07.2012 in ITA No.5064/Del/2011, for the assessment year 2008- 2009.

(2.) THE appeal is admitted and the following substantial question of law is framed:-

(3.) THE assessing officer while completing the assessment, took the view that under Section 54F, the investment in the residential house should be made in the assessee's name and in as much as the residential house was purchased by the assessee in the name of his wife, the deduction was not allowable. He reduced the deduction and computed the capital gains accordingly.