https://www.taxtmi.com/caselaws?id=395830 The appeal was allowed for statistical purposes only, and the matter was remanded to the Assessing Officer for a fresh decision on the deduction under Section 54F of the Income Tax Act. The court emphasized the importance of providing a reasonable opportunity for the assessee to present evidence and the need for verification of the sale proceeds' utilization for constructing a new residential house. The decision underscored the significance of due process and verification in tax assessment matters, particularly in relation to deductions under the Income Tax Act, 1961. en-us Tue, 02 Jun 2020 00:00:00 +0530 Mon, 28 Dec 2020 16:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395830 The appeal was allowed for statistical purposes only, and the matter was remanded to the Assessing Officer for a fresh decision on the deduction under Section 54F of the Income Tax Act. The court emphasized the importance of providing a reasonable opportunity for the assessee to present evidence and the need for verification of the sale proceeds' utilization for constructing a new residential house. The decision underscored the significance of due process and verification in tax assessment matters, particularly in relation to deductions under the Income Tax Act, 1961. Case-Laws Income Tax Tue, 02 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395830