https://www.taxtmi.com/caselaws?id=57260 The Tribunal upheld the CIT(A)'s decision to delete the addition of long-term capital gains on the transfer of a house for the assessment year 1993-94. The Revenue's appeal was dismissed as the assessee's investment in constructing a new house, of which he was a co-owner, qualified for exemption under section 54 of the IT Act. The Tribunal found the CIT(A)'s reasoning convincing and concluded that no capital gains were chargeable. Consequently, both the Revenue's appeal and the assessee's cross-objection were dismissed. en-us Tue, 30 Nov 2004 00:00:00 +0530 Thu, 09 Dec 2010 11:45:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57260 The Tribunal upheld the CIT(A)'s decision to delete the addition of long-term capital gains on the transfer of a house for the assessment year 1993-94. The Revenue's appeal was dismissed as the assessee's investment in constructing a new house, of which he was a co-owner, qualified for exemption under section 54 of the IT Act. The Tribunal found the CIT(A)'s reasoning convincing and concluded that no capital gains were chargeable. Consequently, both the Revenue's appeal and the assessee's cross-objection were dismissed. Case-Laws Income Tax Tue, 30 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57260