https://www.taxtmi.com/caselaws?id=338183 The Tribunal allowed the appeals of the assessees, condoning the delay in filing appeals and accepting their reasons as justifiable. Regarding the cost of acquisition issue, the Tribunal rejected the Assessing Officer's reliance on a different valuation, deleting the addition made based on incorrect valuation. In terms of the Section 54F deduction claim, the Tribunal held that reinvestment did not need to be in the vendor assessees' names, allowing the deduction for the latter two assessees. Ultimately, all three assessees succeeded in their appeals, with the Tribunal ruling in their favor on all issues raised. en-us Mon, 23 Jan 2017 00:00:00 +0530 Fri, 27 Jan 2017 08:59:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338183 The Tribunal allowed the appeals of the assessees, condoning the delay in filing appeals and accepting their reasons as justifiable. Regarding the cost of acquisition issue, the Tribunal rejected the Assessing Officer's reliance on a different valuation, deleting the addition made based on incorrect valuation. In terms of the Section 54F deduction claim, the Tribunal held that reinvestment did not need to be in the vendor assessees' names, allowing the deduction for the latter two assessees. Ultimately, all three assessees succeeded in their appeals, with the Tribunal ruling in their favor on all issues raised. Case-Laws Income Tax Mon, 23 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338183