https://www.taxtmi.com/caselaws?id=417174 The Appellate Tribunal upheld the CIT(A)'s decision in favor of the assessee, allowing a deduction of Rs. 2,40,03,938 under section 54F of the Income Tax Act, 1961. The Tribunal determined that the date of transfer for claiming the deduction was when the High Court decree was passed, not when the final installment was received. Emphasizing that the date of sale is the agreement date, not the final payment date, the Tribunal dismissed the Revenue's appeal, affirming the assessee's eligibility for the deduction under section 54F. en-us Wed, 05 Jan 2022 00:00:00 +0530 Mon, 17 Jan 2022 08:57:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417174 The Appellate Tribunal upheld the CIT(A)'s decision in favor of the assessee, allowing a deduction of Rs. 2,40,03,938 under section 54F of the Income Tax Act, 1961. The Tribunal determined that the date of transfer for claiming the deduction was when the High Court decree was passed, not when the final installment was received. Emphasizing that the date of sale is the agreement date, not the final payment date, the Tribunal dismissed the Revenue's appeal, affirming the assessee's eligibility for the deduction under section 54F. Case-Laws Income Tax Wed, 05 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417174