https://www.taxtmi.com/caselaws?id=179960 The Tribunal ruled in favor of the assessee, allowing the deduction under section 54(1) of the Income Tax Act. It held that the source of funds for the new asset is irrelevant as long as the property is acquired within the specified period. The Tribunal dismissed the appeal and concluded that the assessee was entitled to the deduction, emphasizing the importance of meeting the statutory requirements for claiming such deductions. en-us Thu, 04 Mar 2010 00:00:00 +0530 Mon, 14 Mar 2016 11:50:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179960 The Tribunal ruled in favor of the assessee, allowing the deduction under section 54(1) of the Income Tax Act. It held that the source of funds for the new asset is irrelevant as long as the property is acquired within the specified period. The Tribunal dismissed the appeal and concluded that the assessee was entitled to the deduction, emphasizing the importance of meeting the statutory requirements for claiming such deductions. Case-Laws Income Tax Thu, 04 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179960