https://www.taxtmi.com/caselaws?id=390601 The Tribunal allowed the appeal, overturning the denial of deduction under Section 54 for the amount contributed by the appellant's husband towards reinvestment in a new house property. The Tribunal held that the appellant was entitled to the deduction for the investment made in the new house property, emphasizing that Section 54 does not require a direct link between the sale consideration and the cost of the new asset. The benefit under Section 54 should not be denied based on the source of funds used for acquiring the new property. en-us Fri, 08 Nov 2019 00:00:00 +0530 Tue, 07 Jan 2020 07:58:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390601 The Tribunal allowed the appeal, overturning the denial of deduction under Section 54 for the amount contributed by the appellant's husband towards reinvestment in a new house property. The Tribunal held that the appellant was entitled to the deduction for the investment made in the new house property, emphasizing that Section 54 does not require a direct link between the sale consideration and the cost of the new asset. The benefit under Section 54 should not be denied based on the source of funds used for acquiring the new property. Case-Laws Income Tax Fri, 08 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390601