https://www.taxtmi.com/caselaws?id=243147 The Tribunal partially allowed the assessee's appeal regarding the deduction claim under section 54F of the Income Tax Act. It found that the assessee had invested the entire sale consideration in an under-construction flat within the stipulated period, despite the cancellation of the initial agreement with the builder. The Tribunal directed the Assessing Officer to allow the deduction for the amount invested up to Rs. 1.20 crores and additional costs incurred within three years from the date of transfer, while disallowing the balance amount invested beyond this period. en-us Wed, 15 Jan 2014 00:00:00 +0530 Sun, 26 Jan 2014 19:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243147 The Tribunal partially allowed the assessee's appeal regarding the deduction claim under section 54F of the Income Tax Act. It found that the assessee had invested the entire sale consideration in an under-construction flat within the stipulated period, despite the cancellation of the initial agreement with the builder. The Tribunal directed the Assessing Officer to allow the deduction for the amount invested up to Rs. 1.20 crores and additional costs incurred within three years from the date of transfer, while disallowing the balance amount invested beyond this period. Case-Laws Income Tax Wed, 15 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243147