Delhi ITAT on Section 54F Deduction & Section 263 Revisional Powers

Anju Ahuja Vs PCIT (ITAT Delhi) In a landmark decision, the Income Tax Appellate Tribunal (ITAT) Delhi has delivered its verdict on the case of Anju Ahuja vs Principal Commissioner of Income Tax, Delhi-10, concerning the application of Section 54F of the Income Tax Act and the revisional powers under Section 263. This case revolves around the revisional order passed by the Principal Commissioner for the Assessment Year 2017-18, which challenged the deductions claimed under Section 54F following the sale of a residential plot. Detailed Analysis The crux of the case lies in the Principal Commiss...