https://www.taxtmi.com/caselaws?id=420311 The tribunal accepted the condonation application for the delayed appeal filing, admitting it for disposal on merits. The challenge to re-assessment proceedings initiation and approval was dismissed. The tribunal upheld the rejection of various claims by the Assessing Officer, including the deduction claim of Rs. 25.00 lakh, finding it unrelated to the property transferred for capital gain computation. The exemption claim under section 54F was denied as the property purchased was not a residential house as required by law. The appeal was ultimately dismissed, affirming lower authorities' decisions on capital gain computation, exemption u/s.54F, and the deduction claim. en-us Tue, 29 Mar 2022 00:00:00 +0530 Thu, 31 Mar 2022 08:23:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420311 The tribunal accepted the condonation application for the delayed appeal filing, admitting it for disposal on merits. The challenge to re-assessment proceedings initiation and approval was dismissed. The tribunal upheld the rejection of various claims by the Assessing Officer, including the deduction claim of Rs. 25.00 lakh, finding it unrelated to the property transferred for capital gain computation. The exemption claim under section 54F was denied as the property purchased was not a residential house as required by law. The appeal was ultimately dismissed, affirming lower authorities' decisions on capital gain computation, exemption u/s.54F, and the deduction claim. Case-Laws Income Tax Tue, 29 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420311