https://www.taxtmi.com/caselaws?id=412669 The Appellate Tribunal remanded the eligibility of Rs. 60 lakh under section 54 of the Act back to the Ld.CIT(A) for a decision, directing a review of the remaining Rs. 90 lakhs. The issue of disallowance of claim under section 54F was dismissed as not constituting a mistake apparent on record. The Tribunal denied the exemption under section 54F, citing a decision of the Hon'ble Karnataka High Court and emphasizing that principles laid down by superior courts, even if erroneous, do not warrant rectification by the Tribunal. The Tribunal followed the High Court's view and dismissed the issue raised by the assessee. en-us Tue, 22 Jun 2021 00:00:00 +0530 Thu, 23 Sep 2021 14:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412669 The Appellate Tribunal remanded the eligibility of Rs. 60 lakh under section 54 of the Act back to the Ld.CIT(A) for a decision, directing a review of the remaining Rs. 90 lakhs. The issue of disallowance of claim under section 54F was dismissed as not constituting a mistake apparent on record. The Tribunal denied the exemption under section 54F, citing a decision of the Hon'ble Karnataka High Court and emphasizing that principles laid down by superior courts, even if erroneous, do not warrant rectification by the Tribunal. The Tribunal followed the High Court's view and dismissed the issue raised by the assessee. Case-Laws Income Tax Tue, 22 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412669