https://www.taxtmi.com/caselaws?id=380340 The High Court upheld the decision of the Income Tax Appellate Tribunal (ITAT) in favor of the Assessee, a non-resident who invested in a residential property in the USA after selling a property in India. The Court allowed the Assessee's claim for deduction under Section 54/54F of the Income Tax Act, emphasizing the legislative intent behind the relevant amendment and differentiating between exemptions under various sections of the Act. The Court dismissed the Revenue's appeal, stating that no substantial question of law arose in the case. en-us Tue, 14 May 2019 00:00:00 +0530 Sat, 18 May 2019 06:51:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380340 The High Court upheld the decision of the Income Tax Appellate Tribunal (ITAT) in favor of the Assessee, a non-resident who invested in a residential property in the USA after selling a property in India. The Court allowed the Assessee's claim for deduction under Section 54/54F of the Income Tax Act, emphasizing the legislative intent behind the relevant amendment and differentiating between exemptions under various sections of the Act. The Court dismissed the Revenue's appeal, stating that no substantial question of law arose in the case. Case-Laws Income Tax Tue, 14 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380340