https://www.taxtmi.com/caselaws?id=271385 The Appellate Tribunal ITAT Mumbai allowed the assessee's appeal, overturning the CIT's decision to set aside the assessment order under section 263. The Tribunal found that the AO had properly examined the claim for exemption under section 54F, emphasizing the lack of justification for the CIT's action. The Tribunal's ruling was based on a thorough review of facts and evidence, concluding that the AO had appropriately considered the exemption claim, ultimately ruling in favor of the assessee. en-us Wed, 06 Jan 2016 00:00:00 +0530 Wed, 03 Feb 2016 06:52:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271385 The Appellate Tribunal ITAT Mumbai allowed the assessee's appeal, overturning the CIT's decision to set aside the assessment order under section 263. The Tribunal found that the AO had properly examined the claim for exemption under section 54F, emphasizing the lack of justification for the CIT's action. The Tribunal's ruling was based on a thorough review of facts and evidence, concluding that the AO had appropriately considered the exemption claim, ultimately ruling in favor of the assessee. Case-Laws Income Tax Wed, 06 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271385