https://www.taxtmi.com/caselaws?id=413499 The case involved the denial of exemption/deduction under Section 54(1)(ii) and the rejection of the basic exemption claim under Section 139(1) proviso. The Tribunal ruled in favor of the assessee, holding that the Section 139(1) proviso amendment was not applicable, entitling the assessee to the claimed deduction under Section 54 of the Act. The appeal was allowed, directing the Assessing Officer to proceed in accordance with the law. en-us Thu, 30 Sep 2021 00:00:00 +0530 Wed, 13 Oct 2021 08:43:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413499 The case involved the denial of exemption/deduction under Section 54(1)(ii) and the rejection of the basic exemption claim under Section 139(1) proviso. The Tribunal ruled in favor of the assessee, holding that the Section 139(1) proviso amendment was not applicable, entitling the assessee to the claimed deduction under Section 54 of the Act. The appeal was allowed, directing the Assessing Officer to proceed in accordance with the law. Case-Laws Income Tax Thu, 30 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413499