https://www.taxtmi.com/caselaws?id=371218 The High Court upheld the Tribunal's decision, ruling in favor of the assessee. The Court agreed that the assessee's receipt of cash and new flats qualified as an investment for a new residential property under Section 54 of the Income Tax Act. The Assessing Officer's denial of the exemption was deemed unjustified, and the Tribunal's decision was affirmed. Consequently, the Tax Appeal was dismissed, with no question of law arising from the case. en-us Mon, 26 Nov 2018 00:00:00 +0530 Fri, 30 Nov 2018 07:25:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371218 The High Court upheld the Tribunal's decision, ruling in favor of the assessee. The Court agreed that the assessee's receipt of cash and new flats qualified as an investment for a new residential property under Section 54 of the Income Tax Act. The Assessing Officer's denial of the exemption was deemed unjustified, and the Tribunal's decision was affirmed. Consequently, the Tax Appeal was dismissed, with no question of law arising from the case. Case-Laws Income Tax Mon, 26 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371218