https://www.taxtmi.com/caselaws?id=262399 The Tribunal allowed the appeal in favor of the assessee for statistical purposes, emphasizing the need to fulfill the conditions of section 54 for claiming exemption, particularly when investments are made in residential properties outside India. The Tribunal directed the Assessing Officer to verify compliance with the conditions and actual acquisition of the property outside India, based on a precedent where exemption was granted for similar investments. The Tribunal did not address the non-discrimination clause under Article 24 as it first resolved the issue of disallowance of deduction under section 54. en-us Wed, 13 May 2015 00:00:00 +0530 Mon, 10 Aug 2015 07:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262399 The Tribunal allowed the appeal in favor of the assessee for statistical purposes, emphasizing the need to fulfill the conditions of section 54 for claiming exemption, particularly when investments are made in residential properties outside India. The Tribunal directed the Assessing Officer to verify compliance with the conditions and actual acquisition of the property outside India, based on a precedent where exemption was granted for similar investments. The Tribunal did not address the non-discrimination clause under Article 24 as it first resolved the issue of disallowance of deduction under section 54. Case-Laws Income Tax Wed, 13 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262399