https://www.taxtmi.com/caselaws?id=171606 The Appellate Tribunal ruled in favor of the Assessee, holding that exemptions under sections 54B and 54F of the Income Tax Act are not mutually exclusive but can be claimed concurrently. The Tribunal emphasized that these provisions operate independently, allowing the Assessee to avail exemptions under both sections. Various judicial decisions, including a coordinate bench in Hyderabad, supported the Assessee's position. Consequently, the Tribunal dismissed the Revenue's appeal and upheld the Assessee's right to claim exemptions under both sections 54B and 54F. en-us Fri, 29 Nov 2013 00:00:00 +0530 Mon, 27 Jul 2015 13:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=171606 The Appellate Tribunal ruled in favor of the Assessee, holding that exemptions under sections 54B and 54F of the Income Tax Act are not mutually exclusive but can be claimed concurrently. The Tribunal emphasized that these provisions operate independently, allowing the Assessee to avail exemptions under both sections. Various judicial decisions, including a coordinate bench in Hyderabad, supported the Assessee's position. Consequently, the Tribunal dismissed the Revenue's appeal and upheld the Assessee's right to claim exemptions under both sections 54B and 54F. Case-Laws Income Tax Fri, 29 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=171606