https://www.taxtmi.com/caselaws?id=419924 The ITAT Chennai allowed the appeal, directing the Assessing Officer to consider the revised total income statement, enhance long term capital gains computation, and grant exemption u/s. 54 of the Income Tax Act based on the revised computation. The tribunal held that surplus money from property sale, including additional consideration, is considered income from that source, allowing the exemption claimed for the purchase of a residential property in Bangalore. en-us Wed, 09 Mar 2022 00:00:00 +0530 Wed, 23 Mar 2022 08:39:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419924 The ITAT Chennai allowed the appeal, directing the Assessing Officer to consider the revised total income statement, enhance long term capital gains computation, and grant exemption u/s. 54 of the Income Tax Act based on the revised computation. The tribunal held that surplus money from property sale, including additional consideration, is considered income from that source, allowing the exemption claimed for the purchase of a residential property in Bangalore. Case-Laws Income Tax Wed, 09 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419924