https://www.taxtmi.com/caselaws?id=780682 ITAT MUMBAI upheld the CIT(A)'s grant of deduction under s.54, rejecting the AO's restriction to 50% despite joint acquisition with a relative; the Tribunal found the AO's sole reason for limitation unsubstantiated and the amount invested undisputed. The Tribunal also accepted the assessee's valuation report and stamp-duty valuation, holding no breach of the proviso to s.55(2)(b), and declined to interfere with the cost adopted. The revenue's appeal was dismissed. en-us Mon, 27 Oct 2025 00:00:00 +0530 Tue, 04 Nov 2025 08:03:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780682 ITAT MUMBAI upheld the CIT(A)'s grant of deduction under s.54, rejecting the AO's restriction to 50% despite joint acquisition with a relative; the Tribunal found the AO's sole reason for limitation unsubstantiated and the amount invested undisputed. The Tribunal also accepted the assessee's valuation report and stamp-duty valuation, holding no breach of the proviso to s.55(2)(b), and declined to interfere with the cost adopted. The revenue's appeal was dismissed. Case-Laws Income Tax Mon, 27 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780682