https://www.taxtmi.com/caselaws?id=409317 The appeal was allowed, remitting the matter back to the Assessing Officer to verify if the entire sale proceeds were deposited in a Nationalized Bank, directing to allow the deduction under Section 54F if all conditions were met. The Tribunal emphasized a beneficial interpretation of the provision to grant relief to the assessee, stating that a technical breach should not disentitle the assessee from the benefit of Section 54. The decision aimed to ensure justice in light of the Covid-19 pandemic, allowing the deduction if all requirements were fulfilled. en-us Thu, 01 Jul 2021 00:00:00 +0530 Sat, 03 Jul 2021 09:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409317 The appeal was allowed, remitting the matter back to the Assessing Officer to verify if the entire sale proceeds were deposited in a Nationalized Bank, directing to allow the deduction under Section 54F if all conditions were met. The Tribunal emphasized a beneficial interpretation of the provision to grant relief to the assessee, stating that a technical breach should not disentitle the assessee from the benefit of Section 54. The decision aimed to ensure justice in light of the Covid-19 pandemic, allowing the deduction if all requirements were fulfilled. Case-Laws Income Tax Thu, 01 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409317