https://www.taxtmi.com/caselaws?id=333615 The Court upheld the Tribunal's decision to grant the deduction under Section 54F to the assessee. The Tribunal's interpretation focused on the distinction between residential houses and properties held as stock-in-trade, determining that the flats in question did not qualify as residential houses for the purpose of the deduction. The Court affirmed that stock-in-trade cannot be considered for Section 54F benefits, leading to the dismissal of the Revenue's appeal and the allowance of the deduction claimed by the assessee. en-us Wed, 07 Sep 2016 00:00:00 +0530 Wed, 19 Oct 2016 09:18:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333615 The Court upheld the Tribunal's decision to grant the deduction under Section 54F to the assessee. The Tribunal's interpretation focused on the distinction between residential houses and properties held as stock-in-trade, determining that the flats in question did not qualify as residential houses for the purpose of the deduction. The Court affirmed that stock-in-trade cannot be considered for Section 54F benefits, leading to the dismissal of the Revenue's appeal and the allowance of the deduction claimed by the assessee. Case-Laws Income Tax Wed, 07 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333615