https://www.taxtmi.com/caselaws?id=395150 The Tribunal allowed the appeal, holding that the assessee's claim for deduction under Section 54F was valid despite a procedural error in depositing the capital gains. The Tribunal found that the funds were used solely for purchasing residential property, the error was promptly corrected, and the legislative intent of the provision was fulfilled. Citing precedent and judicial interpretations, the Tribunal concluded in favor of the assessee, allowing the deduction under Section 54F. en-us Fri, 06 Mar 2020 00:00:00 +0530 Wed, 22 Jul 2020 14:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395150 The Tribunal allowed the appeal, holding that the assessee's claim for deduction under Section 54F was valid despite a procedural error in depositing the capital gains. The Tribunal found that the funds were used solely for purchasing residential property, the error was promptly corrected, and the legislative intent of the provision was fulfilled. Citing precedent and judicial interpretations, the Tribunal concluded in favor of the assessee, allowing the deduction under Section 54F. Case-Laws Income Tax Fri, 06 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395150