https://www.taxtmi.com/caselaws?id=285732 The Tribunal remitted the issue of disallowance of deduction under Section 54F back to the Assessing Officer for re-examination, emphasizing the need to verify compliance with the statutory conditions. The Tribunal upheld the charging of interest under Sections 234B and 234C, citing precedent, and dismissed the challenge to the initiation of penalty proceedings as premature. The appeal was allowed for statistical purposes, stressing a liberal interpretation of Section 54F while ensuring adherence to its requirements. en-us Mon, 02 Jan 2017 00:00:00 +0530 Fri, 24 Jan 2020 08:35:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285732 The Tribunal remitted the issue of disallowance of deduction under Section 54F back to the Assessing Officer for re-examination, emphasizing the need to verify compliance with the statutory conditions. The Tribunal upheld the charging of interest under Sections 234B and 234C, citing precedent, and dismissed the challenge to the initiation of penalty proceedings as premature. The appeal was allowed for statistical purposes, stressing a liberal interpretation of Section 54F while ensuring adherence to its requirements. Case-Laws Income Tax Mon, 02 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285732