https://www.taxtmi.com/caselaws?id=372139 The Tribunal dismissed the appeal, upholding the denial of deduction claimed under section 54 of the Income Tax Act, 1961. The Tribunal held that for claiming deduction under section 54, the new property must be owned by the assessee or have legal title over it. Since the new property was not purchased in the name of the assessee but in the name of the wife and adult daughter, the deduction was denied. en-us Fri, 30 Nov 2018 00:00:00 +0530 Tue, 18 Dec 2018 12:41:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372139 The Tribunal dismissed the appeal, upholding the denial of deduction claimed under section 54 of the Income Tax Act, 1961. The Tribunal held that for claiming deduction under section 54, the new property must be owned by the assessee or have legal title over it. Since the new property was not purchased in the name of the assessee but in the name of the wife and adult daughter, the deduction was denied. Case-Laws Income Tax Fri, 30 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372139