https://www.taxtmi.com/caselaws?id=410892 The Tribunal ruled in favor of the assessee, allowing the appeal against the denial of exemption under section 54F of the Income-tax Act. It was determined that the amount received by the assessee was for transferring his right to occupy the property, constituting a capital asset. The Tribunal held that the assessee correctly treated the amount as long term capital gain and was eligible for the exemption. The lower authorities' decision was overturned, and the appeal was allowed on August 11, 2021. en-us Wed, 11 Aug 2021 00:00:00 +0530 Thu, 12 Aug 2021 08:40:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410892 The Tribunal ruled in favor of the assessee, allowing the appeal against the denial of exemption under section 54F of the Income-tax Act. It was determined that the amount received by the assessee was for transferring his right to occupy the property, constituting a capital asset. The Tribunal held that the assessee correctly treated the amount as long term capital gain and was eligible for the exemption. The lower authorities' decision was overturned, and the appeal was allowed on August 11, 2021. Case-Laws Income Tax Wed, 11 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410892