https://www.taxtmi.com/caselaws?id=389712 The Tribunal allowed the appeal, emphasizing the importance of substantiating claims with evidence and conducting proper enquiries before denying deductions. The reassessment order was challenged and dismissed as not pressed, while the addition of long-term capital gain by denying deduction under section 54F was overturned due to the assessee providing evidence of timely expenditure on the new house's purchase and construction. The Tribunal found the Assessing Officer's denial of the deduction unjustified and deleted the addition made, ultimately ruling in favor of the assessee. en-us Tue, 22 Oct 2019 00:00:00 +0530 Mon, 16 Dec 2019 09:48:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389712 The Tribunal allowed the appeal, emphasizing the importance of substantiating claims with evidence and conducting proper enquiries before denying deductions. The reassessment order was challenged and dismissed as not pressed, while the addition of long-term capital gain by denying deduction under section 54F was overturned due to the assessee providing evidence of timely expenditure on the new house's purchase and construction. The Tribunal found the Assessing Officer's denial of the deduction unjustified and deleted the addition made, ultimately ruling in favor of the assessee. Case-Laws Income Tax Tue, 22 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389712