https://www.taxtmi.com/caselaws?id=417683 The Tribunal upheld the disallowance of the exemption under Section 54B, amounting to Rs. 11,41,430, as the requirements of the provision were not met. However, the First Appellate Authority allowed the appeal, directing the Assessing Officer to grant the deduction, based on the correlation between the investment and receipt of sale proceeds within the stipulated time. The differing outcomes stemmed from the interpretation of statutory provisions and the timing of investments in relation to the sale proceeds. en-us Wed, 01 Dec 2021 00:00:00 +0530 Sat, 29 Jan 2022 08:44:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417683 The Tribunal upheld the disallowance of the exemption under Section 54B, amounting to Rs. 11,41,430, as the requirements of the provision were not met. However, the First Appellate Authority allowed the appeal, directing the Assessing Officer to grant the deduction, based on the correlation between the investment and receipt of sale proceeds within the stipulated time. The differing outcomes stemmed from the interpretation of statutory provisions and the timing of investments in relation to the sale proceeds. Case-Laws Income Tax Wed, 01 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417683