The Income-Tax Appellate Tribunal (ITAT)'s Mumbai bench recently denied a taxpayer I-T benefits available when long-term capital gains arising from the sale of a residential property are invested in a new house. The sole reason for the denial was that the taxpayer bought the new house in his wife and adult daughter's names.
from Times of India https://timesofindia.indiatimes.com/business/india-business/no-tax-benefit-on-house-sale-if-new-flat-is-in-wifes-name/articleshow/67068900.cms
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