https://www.taxtmi.com/caselaws?id=383714 The Tribunal held that the investment in the purchase of the plot forms an integral part of the cost of the new residential house and is allowable as an exemption under Section 54 of the Income Tax Act. The assessee's actions demonstrated the intention to construct a new residential house, and the Tribunal applied a purposive interpretation of the law, directing the Assessing Officer to allow the exemption. The appeal was allowed, and the order was pronounced in Open Court on 14th May 2019. en-us Tue, 14 May 2019 00:00:00 +0530 Mon, 29 Jul 2019 10:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383714 The Tribunal held that the investment in the purchase of the plot forms an integral part of the cost of the new residential house and is allowable as an exemption under Section 54 of the Income Tax Act. The assessee's actions demonstrated the intention to construct a new residential house, and the Tribunal applied a purposive interpretation of the law, directing the Assessing Officer to allow the exemption. The appeal was allowed, and the order was pronounced in Open Court on 14th May 2019. Case-Laws Income Tax Tue, 14 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383714