https://www.taxtmi.com/caselaws?id=297538 The Tribunal upheld the Commissioner (A)'s decision, dismissing the Revenue's appeal challenging the disallowance of exemption under Section 54F of the Income Tax Act. It was determined that the assessee, having only one residential property at the time of sale, was eligible for the deduction, despite deeming provisions in other tax laws. The Tribunal emphasized that ownership status for claiming the exemption should not be influenced by such provisions, ultimately affirming the assessee's entitlement to the deduction under Section 54F. en-us Fri, 06 Nov 2015 00:00:00 +0530 Fri, 10 Sep 2021 02:19:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297538 The Tribunal upheld the Commissioner (A)'s decision, dismissing the Revenue's appeal challenging the disallowance of exemption under Section 54F of the Income Tax Act. It was determined that the assessee, having only one residential property at the time of sale, was eligible for the deduction, despite deeming provisions in other tax laws. The Tribunal emphasized that ownership status for claiming the exemption should not be influenced by such provisions, ultimately affirming the assessee's entitlement to the deduction under Section 54F. Case-Laws Income Tax Fri, 06 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297538