Summary
- The ITAT Hyderabad has ruled that a claim for deduction under Section 54F can be raised at the appellate stage, even if not included in the original return.
- The case involved Kiran Kumar Grandhe, who initially did not claim the deduction during reassessment proceedings but later sought it before the Tribunal.
- The Tribunal emphasized that restrictions from Goetze (India) Ltd. do not limit its powers to entertain fresh claims, allowing for further examination of the assessee's eligibility.
- This decision could pave the way for similar claims in future appeals, highlighting the importance of verifying statutory conditions for deductions.
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