Promissory note presumption of consideration survives blank-signature and income-tax non-disclosure objections when admissions and attesting evidence ...
Charitable registration cancellation: limitation and jurisdiction upheld, but withdrawal quashed under discontinued provisions for skill-development e...
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Section 54F relief was available where the assessee booked an under-construction flat, paid substantially the entire consideration within the statutory period, and obtained registration later. The Tribunal treated the transaction as falling within the construction limb of Section 54F, so the three-year period applied and delayed execution of the sale deed did not defeat the claim. It further held that, even on a purchase analysis, the critical factor was acquisition of substantial domain over the property through timely substantial payment, not the date of registration alone. On these facts, the deduction was allowed and the denial by the lower authorities was reversed.
Section 54F relief was available where the assessee booked an under-construction flat, paid substantially the entire consideration within the statutory period, and obtained registration later. The Tribunal treated the transaction as falling within the construction limb of Section 54F, so the three-year period applied and delayed execution of the sale deed did not defeat the claim. It further held that, even on a purchase analysis, the critical factor was acquisition of substantial domain over the property through timely substantial payment, not the date of registration alone. On these facts, the deduction was allowed and the denial by the lower authorities was reversed.
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