2022 (9) TMI 158 - Income Tax

Disallowance of deduction u/s. 54F - reinvestment of capital gains in a residential house at Pune - CIT-A deleted the addition - second round of proceedings between the parties before the tribunal - HELD THAT:- We make it clear that there is no stipulation in section 54F which could be held to have been violated in assessee’s impugned development agreement. We thus invoke stricter interpretation in light of Commissioner of Customs Vs. Dilip Kumar and Co.[2018 (7) TMI 1826 - SUPREME COURT] to affirm the CIT(A) action deleting the impugned disallowance - Decided against revenue.