https://www.taxtmi.com/caselaws?id=190736 The Tribunal directed the CIT(A) to reconsider the eligibility for deduction under Section 54F and the interpretation of "transfer" under Section 2(47) comprehensively. The appeal by the revenue and the cross-objections by the assessee were disposed of accordingly. The Tribunal emphasized that the demolition of the bungalow, being a voluntary act, might amount to a transfer, and the purchase of the bungalow should be real and not symbolic to qualify for the deduction under Section 54F. en-us Wed, 30 Jan 2013 00:00:00 +0530 Tue, 06 Jun 2017 14:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190736 The Tribunal directed the CIT(A) to reconsider the eligibility for deduction under Section 54F and the interpretation of "transfer" under Section 2(47) comprehensively. The appeal by the revenue and the cross-objections by the assessee were disposed of accordingly. The Tribunal emphasized that the demolition of the bungalow, being a voluntary act, might amount to a transfer, and the purchase of the bungalow should be real and not symbolic to qualify for the deduction under Section 54F. Case-Laws Income Tax Wed, 30 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190736