https://www.taxtmi.com/caselaws?id=343530 The Tribunal allowed the assessee's appeal, holding that substantial investment in a new asset before the due date of filing the return qualifies for deduction under section 54, despite the construction not being completed within the specified period. The Tribunal overturned the CIT(A)'s decision, directing the Assessing Officer to grant the exemption claimed by the assessee. The judgment emphasized that fulfilling the investment requirement within the stipulated period suffices for exemption under section 54. en-us Tue, 23 May 2017 00:00:00 +0530 Sat, 27 May 2017 10:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343530 The Tribunal allowed the assessee's appeal, holding that substantial investment in a new asset before the due date of filing the return qualifies for deduction under section 54, despite the construction not being completed within the specified period. The Tribunal overturned the CIT(A)'s decision, directing the Assessing Officer to grant the exemption claimed by the assessee. The judgment emphasized that fulfilling the investment requirement within the stipulated period suffices for exemption under section 54. Case-Laws Income Tax Tue, 23 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343530