https://www.taxtmi.com/caselaws?id=442533 The appellant, involved in a case concerning denial of exemption under section 54F of the Income Tax Act, successfully argued before the Tribunal for the allowance of the claimed deduction for a new residential house property purchased within the specified time frame. The Tribunal directed the Assessing Officer to grant the deduction, thereby overturning the denial of exemption and nullifying the interest levied under sections 234A and 234B. The appellant's appeal was allowed, setting aside the CIT(A)'s decision and resulting in a favorable outcome for the assessee regarding the overall assessment for the assessment year 2012-13. en-us Thu, 31 Aug 2023 00:00:00 +0530 Mon, 04 Sep 2023 08:27:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442533 The appellant, involved in a case concerning denial of exemption under section 54F of the Income Tax Act, successfully argued before the Tribunal for the allowance of the claimed deduction for a new residential house property purchased within the specified time frame. The Tribunal directed the Assessing Officer to grant the deduction, thereby overturning the denial of exemption and nullifying the interest levied under sections 234A and 234B. The appellant's appeal was allowed, setting aside the CIT(A)'s decision and resulting in a favorable outcome for the assessee regarding the overall assessment for the assessment year 2012-13. Case-Laws Income Tax Thu, 31 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442533