https://www.taxtmi.com/caselaws?id=365041 The Tribunal ruled in favor of the assessee, emphasizing that the actual investment made by the assessee should determine the deduction eligibility under s.54F, irrespective of joint ownership of the new asset. The Tribunal directed the AO to grant the deduction based on the amount utilized by the assessee for the purchase of the new asset, rejecting the proportionate computation advocated by the Revenue. The decision underscored that the act of investment, not joint ownership, is pivotal in determining deduction entitlement under s.54F. en-us Thu, 02 Aug 2018 00:00:00 +0530 Thu, 09 Aug 2018 07:29:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365041 The Tribunal ruled in favor of the assessee, emphasizing that the actual investment made by the assessee should determine the deduction eligibility under s.54F, irrespective of joint ownership of the new asset. The Tribunal directed the AO to grant the deduction based on the amount utilized by the assessee for the purchase of the new asset, rejecting the proportionate computation advocated by the Revenue. The decision underscored that the act of investment, not joint ownership, is pivotal in determining deduction entitlement under s.54F. Case-Laws Income Tax Thu, 02 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365041