https://www.taxtmi.com/caselaws?id=390837 The Tribunal allowed the appeal filed by the assessee, directing the Assessing Officer to grant the deduction claimed under Section 54F of the Income Tax Act. The Tribunal disagreed with the Commissioner of Income Tax (Appeals) and held that the deduction should be allowed if the sale consideration was deposited before the due date specified under Section 139(4). The decision was based on interpretations by various High Courts and distinguished a Supreme Court judgment cited by the CIT(A). The Tribunal found the CIT(A)'s decision not in line with precedents and ordered in favor of the assessee. en-us Fri, 13 Dec 2019 00:00:00 +0530 Mon, 13 Jan 2020 07:50:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390837 The Tribunal allowed the appeal filed by the assessee, directing the Assessing Officer to grant the deduction claimed under Section 54F of the Income Tax Act. The Tribunal disagreed with the Commissioner of Income Tax (Appeals) and held that the deduction should be allowed if the sale consideration was deposited before the due date specified under Section 139(4). The decision was based on interpretations by various High Courts and distinguished a Supreme Court judgment cited by the CIT(A). The Tribunal found the CIT(A)'s decision not in line with precedents and ordered in favor of the assessee. Case-Laws Income Tax Fri, 13 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390837