https://www.taxtmi.com/caselaws?id=247337 The Appellate Tribunal ITAT Hyderabad remitted the issue of denial of deduction under section 54F of the Income-tax Act, 1961 for the assessment year 2008-09 back to the Assessing Officer for fresh examination. The Tribunal emphasized that the assessees must provide necessary evidence to prove compliance with section 54F, stating that mere withdrawals from bank accounts were insufficient to demonstrate construction expenditure. The burden of proof was placed on the assessees, with the Tribunal directing the Assessing Officer to allow a reasonable opportunity for the assessees to present their case. The Tribunal allowed the assessees' appeals for statistical purposes. en-us Fri, 31 Aug 2012 00:00:00 +0530 Thu, 08 May 2014 18:55:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247337 The Appellate Tribunal ITAT Hyderabad remitted the issue of denial of deduction under section 54F of the Income-tax Act, 1961 for the assessment year 2008-09 back to the Assessing Officer for fresh examination. The Tribunal emphasized that the assessees must provide necessary evidence to prove compliance with section 54F, stating that mere withdrawals from bank accounts were insufficient to demonstrate construction expenditure. The burden of proof was placed on the assessees, with the Tribunal directing the Assessing Officer to allow a reasonable opportunity for the assessees to present their case. The Tribunal allowed the assessees' appeals for statistical purposes. Case-Laws Income Tax Fri, 31 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247337