https://www.taxtmi.com/caselaws?id=359254 The Tribunal allowed the appellant's appeal, directing a fresh adjudication by the Assessing Officer for both issues. The disallowance of deduction claimed under section 54 was found to be erroneous due to misapplication of law, specifically citing that restrictions under section 54F were not applicable. Additionally, inaccuracies in the computation of long term capital gain were noted, with the authorities failing to properly consider the correct purchase price provided by the appellant. The Tribunal emphasized the need for a thorough reexamination with proper consideration of all facts and evidence presented. en-us Wed, 25 Apr 2018 00:00:00 +0530 Thu, 26 Apr 2018 09:38:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359254 The Tribunal allowed the appellant's appeal, directing a fresh adjudication by the Assessing Officer for both issues. The disallowance of deduction claimed under section 54 was found to be erroneous due to misapplication of law, specifically citing that restrictions under section 54F were not applicable. Additionally, inaccuracies in the computation of long term capital gain were noted, with the authorities failing to properly consider the correct purchase price provided by the appellant. The Tribunal emphasized the need for a thorough reexamination with proper consideration of all facts and evidence presented. Case-Laws Income Tax Wed, 25 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359254