https://www.taxtmi.com/caselaws?id=61800 The Appellate Tribunal upheld the assessee's entitlement to exemption under section 54 of the Income-tax Act, 1961, for capital gains on the property sale. The Tribunal emphasized completion of construction within the stipulated two-year period, rejecting delays in obtaining utility connections and permissions as decisive factors. By considering financial investments and registration dates, the Tribunal concluded that construction was timely, validating the exemption claim. The revenue's appeal was dismissed, affirming the CIT(Appeals) decision and confirming the assessee's right to exemption under section 54. en-us Fri, 05 Oct 1990 00:00:00 +0530 Sat, 15 Jan 2011 11:14:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61800 The Appellate Tribunal upheld the assessee's entitlement to exemption under section 54 of the Income-tax Act, 1961, for capital gains on the property sale. The Tribunal emphasized completion of construction within the stipulated two-year period, rejecting delays in obtaining utility connections and permissions as decisive factors. By considering financial investments and registration dates, the Tribunal concluded that construction was timely, validating the exemption claim. The revenue's appeal was dismissed, affirming the CIT(Appeals) decision and confirming the assessee's right to exemption under section 54. Case-Laws Income Tax Fri, 05 Oct 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61800