https://www.taxtmi.com/caselaws?id=780047 ITAT allowed the assessee's claim of exemption under section 54, holding that the registered sale deed, annexed receipts and bank statements satisfactorily proved reinvestment of sale proceeds in a new residential property and payment through banking channels. The Tribunal found the CIT(A)'s conclusion on non-disclosure of payment details unsustainable, noting Revenue never disputed the source of funds. In view of the contemporaneous documents and corroborative bank records, the deduction under section 54 was held to be admissible. en-us Tue, 30 Sep 2025 00:00:00 +0530 Fri, 17 Oct 2025 08:08:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780047 ITAT allowed the assessee's claim of exemption under section 54, holding that the registered sale deed, annexed receipts and bank statements satisfactorily proved reinvestment of sale proceeds in a new residential property and payment through banking channels. The Tribunal found the CIT(A)'s conclusion on non-disclosure of payment details unsustainable, noting Revenue never disputed the source of funds. In view of the contemporaneous documents and corroborative bank records, the deduction under section 54 was held to be admissible. Case-Laws Income Tax Tue, 30 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780047