https://www.taxtmi.com/caselaws?id=768219 The ITAT Jaipur allowed the assessee's appeal regarding denial of section 54F benefits for sale of residential property used commercially. The property was registered as residential but leased to a bank since 2009. The tribunal noted that conditions under sections 54 and 54F are similar, with section 54F requiring investment of net consideration versus only capital gains under section 54. Since the assessee complied with section 54F provisions and the first appellate authority failed to decide the alternate ground, the AO was directed to allow the claim under section 54 after appropriate calculations. en-us Thu, 06 Mar 2025 00:00:00 +0530 Thu, 03 Apr 2025 07:50:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768219 The ITAT Jaipur allowed the assessee's appeal regarding denial of section 54F benefits for sale of residential property used commercially. The property was registered as residential but leased to a bank since 2009. The tribunal noted that conditions under sections 54 and 54F are similar, with section 54F requiring investment of net consideration versus only capital gains under section 54. Since the assessee complied with section 54F provisions and the first appellate authority failed to decide the alternate ground, the AO was directed to allow the claim under section 54 after appropriate calculations. Case-Laws Income Tax Thu, 06 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768219