https://www.taxtmi.com/caselaws?id=428919 The appeal was allowed for statistical purposes, with directions to the Assessing Officer to verify and examine the documents related to the loan taken by the husband for construction and the purchase of the new property. The Tribunal emphasized that the capital gain should be assessed in the hands of the assessee, as the property was in her name, and merely offering the capital gain in the husband's return did not grant immunity to the assessee. The Assessing Officer's denial of exemption under section 54F was found to be factually incorrect, and the issue was remanded for reconsideration and verification. en-us Wed, 27 Jul 2022 00:00:00 +0530 Fri, 14 Oct 2022 08:47:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428919 The appeal was allowed for statistical purposes, with directions to the Assessing Officer to verify and examine the documents related to the loan taken by the husband for construction and the purchase of the new property. The Tribunal emphasized that the capital gain should be assessed in the hands of the assessee, as the property was in her name, and merely offering the capital gain in the husband's return did not grant immunity to the assessee. The Assessing Officer's denial of exemption under section 54F was found to be factually incorrect, and the issue was remanded for reconsideration and verification. Case-Laws Income Tax Wed, 27 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428919