https://www.taxtmi.com/caselaws?id=433025 The Tribunal upheld the Commissioner's decision in the case involving the disallowance of deduction u/s 54/54F of the Income Tax Act. The Assessing Officer's disallowance was overturned as the Commissioner deemed the treatment of the investment in the Gurgaon property as a purchase in June 2010 to be debatable. The possession of the property within three years of the transfer satisfied the construction condition, leading to the deletion of the addition made in the rectification order. The Tribunal found no error in the Commissioner's decision and dismissed the Revenue's appeal. en-us Tue, 17 Jan 2023 00:00:00 +0530 Thu, 19 Jan 2023 08:38:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433025 The Tribunal upheld the Commissioner's decision in the case involving the disallowance of deduction u/s 54/54F of the Income Tax Act. The Assessing Officer's disallowance was overturned as the Commissioner deemed the treatment of the investment in the Gurgaon property as a purchase in June 2010 to be debatable. The possession of the property within three years of the transfer satisfied the construction condition, leading to the deletion of the addition made in the rectification order. The Tribunal found no error in the Commissioner's decision and dismissed the Revenue's appeal. Case-Laws Income Tax Tue, 17 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433025