https://www.taxtmi.com/caselaws?id=397412 The Tribunal ruled in the case that the assessee could claim deductions for the investment in the Ansal property and the capital gains bonds but not for the Jungpura property. The disallowance of business loss amounting to Rs. 50,000 was deleted due to insufficient evidence. The Tribunal upheld the addition of Rs. 17,29,976 on account of capital gains for the Jungpura property and enhanced income by Rs. 73,18,424, denying the deduction under Section 54F for the same property. The appeal was partly allowed, maintaining the capital gains additions and enhancements while deleting the business loss disallowance. en-us Mon, 13 Jul 2020 00:00:00 +0530 Mon, 17 Aug 2020 13:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397412 The Tribunal ruled in the case that the assessee could claim deductions for the investment in the Ansal property and the capital gains bonds but not for the Jungpura property. The disallowance of business loss amounting to Rs. 50,000 was deleted due to insufficient evidence. The Tribunal upheld the addition of Rs. 17,29,976 on account of capital gains for the Jungpura property and enhanced income by Rs. 73,18,424, denying the deduction under Section 54F for the same property. The appeal was partly allowed, maintaining the capital gains additions and enhancements while deleting the business loss disallowance. Case-Laws Income Tax Mon, 13 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397412