https://www.taxtmi.com/caselaws?id=337103 The Tribunal partly allowed the appeal, directing the Assessing Officer to allow the deduction under Section 54F of the Income Tax Act, 1961. The Tribunal upheld the disallowance of deduction under Section 54B, interpreting the term "assessee" to include legal heirs. The judgment emphasized the importance of legal interpretation and reliance on judicial precedents in determining eligibility for deductions based on property ownership and investment circumstances. en-us Mon, 26 Dec 2016 00:00:00 +0530 Tue, 03 Jan 2017 12:16:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337103 The Tribunal partly allowed the appeal, directing the Assessing Officer to allow the deduction under Section 54F of the Income Tax Act, 1961. The Tribunal upheld the disallowance of deduction under Section 54B, interpreting the term "assessee" to include legal heirs. The judgment emphasized the importance of legal interpretation and reliance on judicial precedents in determining eligibility for deductions based on property ownership and investment circumstances. Case-Laws Income Tax Mon, 26 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337103