https://www.taxtmi.com/caselaws?id=274726 The Tribunal confirmed the CIT(A)'s decision that the exemption under section 54F of the Income-tax Act, 1961 applies to investments made in residential properties outside India. The Revenue's appeal was dismissed, upholding the assessee's right to claim exemption for investing in a residential property in New Zealand after selling land in Noida. The Tribunal emphasized that the statute should be strictly construed, and the plain language of the law does not restrict the exemption to properties acquired within India. en-us Fri, 25 Jul 2014 00:00:00 +0530 Fri, 31 Aug 2018 06:46:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274726 The Tribunal confirmed the CIT(A)'s decision that the exemption under section 54F of the Income-tax Act, 1961 applies to investments made in residential properties outside India. The Revenue's appeal was dismissed, upholding the assessee's right to claim exemption for investing in a residential property in New Zealand after selling land in Noida. The Tribunal emphasized that the statute should be strictly construed, and the plain language of the law does not restrict the exemption to properties acquired within India. Case-Laws Income Tax Fri, 25 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274726