https://www.taxtmi.com/highlights?id=85073 The ITAT held that an assessee is eligible for deduction u/s 54F of the Income Tax Act from long-term capital gains, even if the claim was not made while filing the return but was raised before the CIT(A). The Appellate Authorities are not barred from entertaining a fresh claim. The ITAT set aside the orders of the lower authorities and directed the Assessing Officer to verify the facts regarding acquiring the new asset and allow deduction u/s 54F in respect of long-term capital gains. en-us Wed, 22 Jan 2025 08:21:45 +0530 Wed, 22 Jan 2025 08:21:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=85073 The ITAT held that an assessee is eligible for deduction u/s 54F of the Income Tax Act from long-term capital gains, even if the claim was not made while filing the return but was raised before the CIT(A). The Appellate Authorities are not barred from entertaining a fresh claim. The ITAT set aside the orders of the lower authorities and directed the Assessing Officer to verify the facts regarding acquiring the new asset and allow deduction u/s 54F in respect of long-term capital gains. Highlights Income Tax Wed, 22 Jan 2025 08:21:45 +0530 https://www.taxtmi.com/highlights?id=85073