https://www.taxtmi.com/caselaws?id=425709 The appeal was allowed in favor of the assessee as the Tribunal held that properties used for commercial purposes should be excluded for the purpose of deduction under Section 54F of the Income Tax Act, 1961. The Tribunal directed the Assessing Officer to delete the disallowance made under Section 54F, based on the interpretation of the law and relevant precedents, including the decision of the Hon'ble Karnataka High Court in Navin Jolly vs. ITO. en-us Wed, 27 Jul 2022 00:00:00 +0530 Thu, 28 Jul 2022 12:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425709 The appeal was allowed in favor of the assessee as the Tribunal held that properties used for commercial purposes should be excluded for the purpose of deduction under Section 54F of the Income Tax Act, 1961. The Tribunal directed the Assessing Officer to delete the disallowance made under Section 54F, based on the interpretation of the law and relevant precedents, including the decision of the Hon'ble Karnataka High Court in Navin Jolly vs. ITO. Case-Laws Income Tax Wed, 27 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425709