https://www.taxtmi.com/caselaws?id=55118 The Tribunal dismissed the Department's appeal challenging the deduction under section 54 of the Income Tax Act, affirming the allowance based on actual purchase and possession rather than legal title acquisition. The Tribunal also upheld the valuation of the old property for capital gains computation, rejecting the assessee's cross objection. en-us Wed, 31 Jul 1991 00:00:00 +0530 Wed, 24 Nov 2010 11:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55118 The Tribunal dismissed the Department's appeal challenging the deduction under section 54 of the Income Tax Act, affirming the allowance based on actual purchase and possession rather than legal title acquisition. The Tribunal also upheld the valuation of the old property for capital gains computation, rejecting the assessee's cross objection. Case-Laws Income Tax Wed, 31 Jul 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55118