https://www.taxtmi.com/caselaws?id=266151 The Tribunal allowed the appeal, overturning the decisions of the lower authorities and granting the appellant the deduction under section 54F of the Income Tax Act. The Tribunal found that the appellant had purchased the new property before filing the return under section 139(4), meeting the requirements despite not depositing the net consideration in the capital gain account scheme before the due date. It interpreted the relevant provisions flexibly, ruling in favor of the appellant and directing the Assessing Officer to allow the deduction under section 54F. en-us Wed, 03 Jun 2015 00:00:00 +0530 Sat, 17 Oct 2015 23:27:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266151 The Tribunal allowed the appeal, overturning the decisions of the lower authorities and granting the appellant the deduction under section 54F of the Income Tax Act. The Tribunal found that the appellant had purchased the new property before filing the return under section 139(4), meeting the requirements despite not depositing the net consideration in the capital gain account scheme before the due date. It interpreted the relevant provisions flexibly, ruling in favor of the appellant and directing the Assessing Officer to allow the deduction under section 54F. Case-Laws Income Tax Wed, 03 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266151