https://www.taxtmi.com/caselaws?id=395340 The Tribunal allowed the assessee's appeal, finding that the revenue authorities erred in disallowing the benefit under Section 54 of the Income Tax Act. The Tribunal held that the capital gains were utilized for the construction of the house at D-279, Defence Colony, New Delhi, and the assessee did not own more than one residential house at the time of the sale of the original asset. The addition made by the revenue authorities was deemed unwarranted, and the appeal was allowed. en-us Mon, 24 Feb 2020 00:00:00 +0530 Mon, 18 May 2020 12:10:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395340 The Tribunal allowed the assessee's appeal, finding that the revenue authorities erred in disallowing the benefit under Section 54 of the Income Tax Act. The Tribunal held that the capital gains were utilized for the construction of the house at D-279, Defence Colony, New Delhi, and the assessee did not own more than one residential house at the time of the sale of the original asset. The addition made by the revenue authorities was deemed unwarranted, and the appeal was allowed. Case-Laws Income Tax Mon, 24 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395340