https://www.taxtmi.com/caselaws?id=429382 The Tribunal condoned the Revenue's appeal delay and admitted it for adjudication. The appeal focused on the disallowance of the deduction claimed under section 54F of the Income Tax Act by the CIT(A). The Tribunal interpreted "one residential house" in favor of the assessee, allowing for reinvestment exemption from multiple units. Consequently, the Tribunal dismissed the Revenue's appeal, upheld the deduction claim under section 54F, and dismissed the cross objection by the assessee, providing a favorable decision for the assessee. en-us Fri, 21 Oct 2022 00:00:00 +0530 Thu, 27 Oct 2022 07:49:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429382 The Tribunal condoned the Revenue's appeal delay and admitted it for adjudication. The appeal focused on the disallowance of the deduction claimed under section 54F of the Income Tax Act by the CIT(A). The Tribunal interpreted "one residential house" in favor of the assessee, allowing for reinvestment exemption from multiple units. Consequently, the Tribunal dismissed the Revenue's appeal, upheld the deduction claim under section 54F, and dismissed the cross objection by the assessee, providing a favorable decision for the assessee. Case-Laws Income Tax Fri, 21 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429382