https://www.taxtmi.com/caselaws?id=65444 Section 54F relief depends on investment of net consideration in construction of a residential house; commercial use alone does not defeat relief where the structure otherwise qualifies as residential. Additional evidence on the shareholding period may be admitted when needed to clarify material facts, and the share-sale gain was treated as long-term capital gain, subject to verification of the residential-house condition. Brokerage paid to secure a tenant is not deductible from house-property income because statutory deductions are exhaustive. Interest under sections 234B and 234C remains chargeable, but must be recomputed after consequential relief, with an opportunity to contest its applicability. en-us Fri, 07 Oct 2005 00:00:00 +0530 Tue, 09 Apr 2024 18:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65444 Section 54F relief depends on investment of net consideration in construction of a residential house; commercial use alone does not defeat relief where the structure otherwise qualifies as residential. Additional evidence on the shareholding period may be admitted when needed to clarify material facts, and the share-sale gain was treated as long-term capital gain, subject to verification of the residential-house condition. Brokerage paid to secure a tenant is not deductible from house-property income because statutory deductions are exhaustive. Interest under sections 234B and 234C remains chargeable, but must be recomputed after consequential relief, with an opportunity to contest its applicability. Case-Laws Income Tax Fri, 07 Oct 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65444