https://www.taxtmi.com/caselaws?id=413117 The High Court quashed the Tribunal's decision denying exemption under Section 54F of the Income Tax Act, remitting the matter for a fresh decision. The Court disagreed with the Tribunal's characterization of the release deed as a colorable device and emphasized proper adjudication based on legal precedents. The Court did not address the substantive legal questions but disposed of the appeal by remitting the case for reconsideration by the Tribunal. en-us Mon, 23 Aug 2021 00:00:00 +0530 Mon, 04 Oct 2021 21:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413117 The High Court quashed the Tribunal's decision denying exemption under Section 54F of the Income Tax Act, remitting the matter for a fresh decision. The Court disagreed with the Tribunal's characterization of the release deed as a colorable device and emphasized proper adjudication based on legal precedents. The Court did not address the substantive legal questions but disposed of the appeal by remitting the case for reconsideration by the Tribunal. Case-Laws Income Tax Mon, 23 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413117