https://www.taxtmi.com/caselaws?id=263102 The Appellate Tribunal ITAT Mumbai allowed the appellant's claim for exemption under Section 54 of the Act, amounting to Rs. 23,77,683. The Tribunal emphasized the importance of investing sale proceeds in acquiring a new property for claiming such benefits. Consequently, the Tribunal also ruled in favor of the appellant regarding the levy of interest under Section 234B of the Act, deeming it consequential. The appeal was allowed, and the order was pronounced in open court in the presence of both parties' representatives. en-us Wed, 10 Sep 2014 00:00:00 +0530 Thu, 27 Aug 2015 08:28:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263102 The Appellate Tribunal ITAT Mumbai allowed the appellant's claim for exemption under Section 54 of the Act, amounting to Rs. 23,77,683. The Tribunal emphasized the importance of investing sale proceeds in acquiring a new property for claiming such benefits. Consequently, the Tribunal also ruled in favor of the appellant regarding the levy of interest under Section 234B of the Act, deeming it consequential. The appeal was allowed, and the order was pronounced in open court in the presence of both parties' representatives. Case-Laws Income Tax Wed, 10 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263102