https://www.taxtmi.com/caselaws?id=396987 The tribunal ruled in favor of the appellant, allowing the claim under Section 54 for relief related to the purchase of a new residential property. Despite the property being in the name of the assessee's son, the tribunal recognized the direct financial involvement of the assessee in funding the purchase, concluding that the investment was effectively made by the assessee. The tribunal applied the Constructive Ownership theory, emphasizing that the property's registration in the son's name did not negate the assessee's entitlement to claim relief under Section 54, as the investment was traced back to the proceeds from the old property. en-us Thu, 05 Mar 2020 00:00:00 +0530 Wed, 29 Jul 2020 13:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396987 The tribunal ruled in favor of the appellant, allowing the claim under Section 54 for relief related to the purchase of a new residential property. Despite the property being in the name of the assessee's son, the tribunal recognized the direct financial involvement of the assessee in funding the purchase, concluding that the investment was effectively made by the assessee. The tribunal applied the Constructive Ownership theory, emphasizing that the property's registration in the son's name did not negate the assessee's entitlement to claim relief under Section 54, as the investment was traced back to the proceeds from the old property. Case-Laws Income Tax Thu, 05 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396987