https://www.taxtmi.com/caselaws?id=253871 The tribunal allowed the assessee's appeal for statistical purposes and dismissed the revenue's appeal. The issue of disallowance of exemption claimed under Section 54F was remitted back to the Assessing Officer for a fresh decision due to procedural lapses and lack of factual determination. The addition of Rs. 15 lacs towards unexplained advances was deleted as the assessee provided sufficient evidence, and the tribunal upheld the CIT (A)'s decision in favor of the assessee. en-us Tue, 21 Oct 2014 00:00:00 +0530 Sat, 06 Dec 2014 06:31:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253871 The tribunal allowed the assessee's appeal for statistical purposes and dismissed the revenue's appeal. The issue of disallowance of exemption claimed under Section 54F was remitted back to the Assessing Officer for a fresh decision due to procedural lapses and lack of factual determination. The addition of Rs. 15 lacs towards unexplained advances was deleted as the assessee provided sufficient evidence, and the tribunal upheld the CIT (A)'s decision in favor of the assessee. Case-Laws Income Tax Tue, 21 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253871