https://www.taxtmi.com/caselaws?id=283506 The Appellate Tribunal ITAT MUMBAI ruled in favor of the appellant, directing the assessing officer to recompute the assessment by granting the exemption for long-term capital gain under section 54 of the Income Tax Act, 1961. The appellant's appeal against the higher assessment amount compared to the declared income was successful, with the Tribunal holding that the deduction is allowable based on the investment of long-term capital gain, regardless of the property's completion status. The decision favored the appellant over the revenue authorities. en-us Fri, 31 Mar 2017 00:00:00 +0530 Thu, 26 Sep 2019 11:15:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283506 The Appellate Tribunal ITAT MUMBAI ruled in favor of the appellant, directing the assessing officer to recompute the assessment by granting the exemption for long-term capital gain under section 54 of the Income Tax Act, 1961. The appellant's appeal against the higher assessment amount compared to the declared income was successful, with the Tribunal holding that the deduction is allowable based on the investment of long-term capital gain, regardless of the property's completion status. The decision favored the appellant over the revenue authorities. Case-Laws Income Tax Fri, 31 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283506