https://www.taxtmi.com/caselaws?id=68735 The Tribunal dismissed the appeal, finding that the assessee did not meet the requirements of Section 54F of the Income-tax Act. The assessee's failure to construct a residential house within the specified period rendered the exemption claim invalid. The purchase of a plot without completing the construction was deemed insufficient. Additionally, the alternative plea to defer capital gains tax to a later assessment year was rejected due to non-compliance with Section 54F(4). The Tribunal upheld the decisions of the Assessing Officer and the Commissioner of Income Tax (Appeals), denying the assessee's claims for exemption and alternative relief. en-us Mon, 21 Jul 2003 00:00:00 +0530 Fri, 01 Apr 2011 11:43:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68735 The Tribunal dismissed the appeal, finding that the assessee did not meet the requirements of Section 54F of the Income-tax Act. The assessee's failure to construct a residential house within the specified period rendered the exemption claim invalid. The purchase of a plot without completing the construction was deemed insufficient. Additionally, the alternative plea to defer capital gains tax to a later assessment year was rejected due to non-compliance with Section 54F(4). The Tribunal upheld the decisions of the Assessing Officer and the Commissioner of Income Tax (Appeals), denying the assessee's claims for exemption and alternative relief. Case-Laws Income Tax Mon, 21 Jul 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68735