https://www.taxtmi.com/caselaws?id=64032 The Appellate Tribunal ITAT Delhi-C upheld the Commissioner (Appeals)' decision to allow proportionate exemption under section 54 of the Income-tax Act, 1961 for capital gains from the sale of a property in New Delhi. Despite conflicting judicial opinions on the interpretation of section 54, the Tribunal emphasized following the judgments of the Delhi High Court and favored the citizen in fiscal matters. Consequently, the Tribunal dismissed the revenue's appeal and affirmed the proportionate exemption granted to the assessee. en-us Thu, 14 Aug 1986 00:00:00 +0530 Thu, 03 Feb 2011 12:56:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64032 The Appellate Tribunal ITAT Delhi-C upheld the Commissioner (Appeals)' decision to allow proportionate exemption under section 54 of the Income-tax Act, 1961 for capital gains from the sale of a property in New Delhi. Despite conflicting judicial opinions on the interpretation of section 54, the Tribunal emphasized following the judgments of the Delhi High Court and favored the citizen in fiscal matters. Consequently, the Tribunal dismissed the revenue's appeal and affirmed the proportionate exemption granted to the assessee. Case-Laws Income Tax Thu, 14 Aug 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64032