https://www.taxtmi.com/caselaws?id=428668 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to allow the deduction under Section 54 of the Income Tax Act. It was held that the assessee could claim the deduction without filing a revised return if relevant material was available during assessment proceedings. The Tribunal also confirmed that the exemption under Section 54 could be claimed for property purchased outside India before the 2014 amendment and that the construction of the house within the prescribed period was adequately substantiated. en-us Thu, 29 Sep 2022 00:00:00 +0530 Fri, 07 Oct 2022 00:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428668 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to allow the deduction under Section 54 of the Income Tax Act. It was held that the assessee could claim the deduction without filing a revised return if relevant material was available during assessment proceedings. The Tribunal also confirmed that the exemption under Section 54 could be claimed for property purchased outside India before the 2014 amendment and that the construction of the house within the prescribed period was adequately substantiated. Case-Laws Income Tax Thu, 29 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428668