https://www.taxtmi.com/caselaws?id=369979 The Tribunal allowed the assessee's appeal, directing the Assessing Officer to permit the deduction claimed under section 54 of the Income Tax Act. The Tribunal held that the assessee was entitled to the deduction as the new house property was purchased within the prescribed period, regardless of the funding source for the purchase. The Tribunal emphasized that compliance with the statutory timeline for property acquisition was the key factor for eligibility for the deduction, irrespective of the origin of the funds used. en-us Fri, 05 Oct 2018 00:00:00 +0530 Thu, 31 Jan 2019 15:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369979 The Tribunal allowed the assessee's appeal, directing the Assessing Officer to permit the deduction claimed under section 54 of the Income Tax Act. The Tribunal held that the assessee was entitled to the deduction as the new house property was purchased within the prescribed period, regardless of the funding source for the purchase. The Tribunal emphasized that compliance with the statutory timeline for property acquisition was the key factor for eligibility for the deduction, irrespective of the origin of the funds used. Case-Laws Income Tax Fri, 05 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369979