https://www.taxtmi.com/caselaws?id=397647 The Tribunal allowed the appeal of the assessee, holding that the revenue authorities erred in denying benefits under Sections 54 and 54F of the Income Tax Act, 1961. It was established that the capital gains were appropriately utilized for the construction of the house at Defence Colony, and the assessee did not own more than one residential house at the relevant time. The additions made by the revenue authorities were deemed unwarranted, and the assessee's appeal was allowed. en-us Thu, 30 Apr 2020 00:00:00 +0530 Mon, 24 Aug 2020 12:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397647 The Tribunal allowed the appeal of the assessee, holding that the revenue authorities erred in denying benefits under Sections 54 and 54F of the Income Tax Act, 1961. It was established that the capital gains were appropriately utilized for the construction of the house at Defence Colony, and the assessee did not own more than one residential house at the relevant time. The additions made by the revenue authorities were deemed unwarranted, and the assessee's appeal was allowed. Case-Laws Income Tax Thu, 30 Apr 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397647