https://www.taxtmi.com/caselaws?id=59331 The Tribunal upheld the CIT(A)'s order, dismissing the Revenue's appeal on all grounds. It affirmed the assessee's eligibility for exemption under section 54 for the purchase of a second flat, treating two contiguous flats as a single residential house. Additionally, the Tribunal confirmed the deductibility of the Rs. 1,01,000 brokerage payment, recognizing it as an expenditure incurred wholly and exclusively in connection with the transfer of the asset under section 48(1). The decision was based on a thorough analysis of legal provisions, factual circumstances, and relevant case law, supporting the assessee's claims against the Revenue's objections. en-us Fri, 07 Oct 2005 00:00:00 +0530 Thu, 18 Apr 2024 15:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59331 The Tribunal upheld the CIT(A)'s order, dismissing the Revenue's appeal on all grounds. It affirmed the assessee's eligibility for exemption under section 54 for the purchase of a second flat, treating two contiguous flats as a single residential house. Additionally, the Tribunal confirmed the deductibility of the Rs. 1,01,000 brokerage payment, recognizing it as an expenditure incurred wholly and exclusively in connection with the transfer of the asset under section 48(1). The decision was based on a thorough analysis of legal provisions, factual circumstances, and relevant case law, supporting the assessee's claims against the Revenue's objections. Case-Laws Income Tax Fri, 07 Oct 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59331