https://www.taxtmi.com/caselaws?id=776246 The ITAT Delhi upheld the CIT(A)'s decision denying the benefit of section 54F where the new residential property was purchased in the name of the assessee's mother, following the jurisdictional Punjab & Haryana HC rulings. Grounds 1 to 3 of the appeal were dismissed accordingly. Regarding unexplained cash deposits, the assessee's initial explanation of withdrawals was later changed to advances from the sale of immovable property by the mother, but no supporting details were provided. The tribunal found this explanation unsubstantiated and rejected it, dismissing grounds 4 and 5 of the appeal. en-us Wed, 11 Jun 2025 00:00:00 +0530 Thu, 07 Aug 2025 07:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776246 The ITAT Delhi upheld the CIT(A)'s decision denying the benefit of section 54F where the new residential property was purchased in the name of the assessee's mother, following the jurisdictional Punjab & Haryana HC rulings. Grounds 1 to 3 of the appeal were dismissed accordingly. Regarding unexplained cash deposits, the assessee's initial explanation of withdrawals was later changed to advances from the sale of immovable property by the mother, but no supporting details were provided. The tribunal found this explanation unsubstantiated and rejected it, dismissing grounds 4 and 5 of the appeal. Case-Laws Income Tax Wed, 11 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776246