Taxability of Real Estate transactions
Taxability of Real Estate transactions
Taxability of Real Estate transactions
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Farm House<br />
• Whether a farm house can be considered as a<br />
residential house for the purposes <strong>of</strong> section 54/<br />
54F<br />
• Land appurtenant to a building is a question <strong>of</strong> fact<br />
• Land appurtenant thereto implies lands which are<br />
necessary for the effective enjoyment <strong>of</strong> the<br />
building as a residential house<br />
• Tests as per judicial precedents<br />
S Radha Krishnan vs CIT (1984) 145 ITR 170 Madras)<br />
CIT vs M Kalpagam (1997) 227 ITR 733 (Madras)<br />
CIT vs Zaibunisa Begum (1985) 151 ITR 320 (AP)<br />
L & T vs Trustees (1988) 4 SCC 260