https://www.taxtmi.com/caselaws?id=390321 The Tribunal allowed the appeal, setting aside the CIT(A)'s decision to reject the deduction claim under Section 54F of the Income Tax Act. The Tribunal emphasized a liberal interpretation of the provision, focusing on the investment of capital gains in a residential house rather than strict compliance with procedural requirements. The case was remanded to the Assessing Officer for verification of the amount spent by the assessee within the stipulated period, with instructions to re-examine the deduction claim under Section 54F. en-us Fri, 20 Dec 2019 00:00:00 +0530 Sun, 29 Dec 2019 10:03:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390321 The Tribunal allowed the appeal, setting aside the CIT(A)'s decision to reject the deduction claim under Section 54F of the Income Tax Act. The Tribunal emphasized a liberal interpretation of the provision, focusing on the investment of capital gains in a residential house rather than strict compliance with procedural requirements. The case was remanded to the Assessing Officer for verification of the amount spent by the assessee within the stipulated period, with instructions to re-examine the deduction claim under Section 54F. Case-Laws Income Tax Fri, 20 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390321