https://www.taxtmi.com/caselaws?id=397127 The ITAT Hyderabad partially allowed the appeal, granting the deduction under section 54F of the Income Tax Act to the assessee. The ITAT held that the assessee was eligible for the deduction as the sale proceeds were utilized for purchasing a new residential property within the due date of filing the return, despite discrepancies in documents. Additionally, the ITAT confirmed the levy of interest under sections 234A, B & C of the Act, stating it was mandatory and consequential, partially setting aside the CIT(A)'s order on the deduction issue. en-us Fri, 24 Jul 2020 00:00:00 +0530 Wed, 05 Aug 2020 09:43:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397127 The ITAT Hyderabad partially allowed the appeal, granting the deduction under section 54F of the Income Tax Act to the assessee. The ITAT held that the assessee was eligible for the deduction as the sale proceeds were utilized for purchasing a new residential property within the due date of filing the return, despite discrepancies in documents. Additionally, the ITAT confirmed the levy of interest under sections 234A, B & C of the Act, stating it was mandatory and consequential, partially setting aside the CIT(A)'s order on the deduction issue. Case-Laws Income Tax Fri, 24 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397127