https://www.taxtmi.com/caselaws?id=300950 The Tribunal allowed the appeal, overturning the CIT(A)'s decision to disallow the exemption claimed under section 54F of the Income Tax Act for the assessment year 2010-11. The Tribunal emphasized that in abated assessments under section 153A, fresh claims are permissible, akin to returns under section 139, and relevant provisions can be applied. The appellant successfully challenged the Assessing Officer's presumption regarding property ownership, citing precedents supporting the right to raise fresh claims before appellate authorities. The Tribunal directed the Assessing Officer to verify the claim and grant the deduction if the appellant's eligibility is confirmed based on the ownership status of the residential property. en-us Thu, 04 May 2017 00:00:00 +0530 Sat, 05 Mar 2022 07:56:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300950 The Tribunal allowed the appeal, overturning the CIT(A)'s decision to disallow the exemption claimed under section 54F of the Income Tax Act for the assessment year 2010-11. The Tribunal emphasized that in abated assessments under section 153A, fresh claims are permissible, akin to returns under section 139, and relevant provisions can be applied. The appellant successfully challenged the Assessing Officer's presumption regarding property ownership, citing precedents supporting the right to raise fresh claims before appellate authorities. The Tribunal directed the Assessing Officer to verify the claim and grant the deduction if the appellant's eligibility is confirmed based on the ownership status of the residential property. Case-Laws Income Tax Thu, 04 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300950