https://www.taxtmi.com/caselaws?id=297544 The High Court upheld the Tribunal's decision, affirming that Section 27(i) of the Income Tax Act is a deeming provision applicable only for Sections 22 to 26 and cannot be extended to Section 54F. The court concluded that the assessee was eligible for the exemption under Section 54F as he owned only one residential property at the time of the transfer of the original asset. The appeal by the Revenue was dismissed, and the substantial questions of law were answered against the Revenue. en-us Tue, 30 Aug 2016 00:00:00 +0530 Fri, 10 Sep 2021 02:19:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297544 The High Court upheld the Tribunal's decision, affirming that Section 27(i) of the Income Tax Act is a deeming provision applicable only for Sections 22 to 26 and cannot be extended to Section 54F. The court concluded that the assessee was eligible for the exemption under Section 54F as he owned only one residential property at the time of the transfer of the original asset. The appeal by the Revenue was dismissed, and the substantial questions of law were answered against the Revenue. Case-Laws Income Tax Tue, 30 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297544