The assessee invested the entire sale consideration of the tenancy right in residential house . In the return of income she mentioned the section \u00a054 of the Act . In the course of assessment proceedings she stated that it was inadvertent mistake . The AO rejected the claim . On appeal the CIT(A) allowed the claim. The Revenue filed an appeal against the \u00a0order of CIT(A). Dismissing the appeal of the Revenue the Tribunal held that\u00a0 the AO was indeed in error in adopting such a hyper-pedantic \u00a0\u00a0approach and holding that there was a fresh claim for exemption\u00a0 under section 54F of the Act . The grievance raised by the AO devoid of any legally sustainable merits . Appeal of the Revenue was dismissed .( ITA No. 834 \/Mum\/ 2022 dt 30 -8 2022 \u00a0Bench \u201cF\u201d)( AY. 2017 -18)<\/p>\n","protected":false},"excerpt":{"rendered":"
S.54F : Capital gains- Investment in a residential house \u2013 Non -Resident \u2013 Transfer of tenancy rights \u2013 Invested in residential flat in proposed building – AO was indeed in error in adopting a hyper-pedantic approach and holding that there was a fresh claim for exemption under section 54F of the Act -Entitle for exemption [ S.45, 54, ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-29785","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-7Kp","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29785","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=29785"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29785\/revisions"}],"predecessor-version":[{"id":33141,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29785\/revisions\/33141"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=29785"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=29785"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=29785"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}