https://www.taxtmi.com/caselaws?id=70649 The assessee was entitled to treat the gain on transfer of the property as long-term capital gains because the house was found to have been completed and fit for occupation more than 36 months before sale. The tribunal accepted surrounding evidence, including occupation of the house, electricity connection, and other circumstances consistent with completion by November 1975, and rejected the Revenue's contrary inference from a loan request, rent payments, and delayed municipal assessment. On that footing, relief under section 54E was available and the Revenue's challenge failed. en-us Thu, 26 Oct 1989 00:00:00 +0530 Mon, 18 Apr 2011 13:05:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70649 The assessee was entitled to treat the gain on transfer of the property as long-term capital gains because the house was found to have been completed and fit for occupation more than 36 months before sale. The tribunal accepted surrounding evidence, including occupation of the house, electricity connection, and other circumstances consistent with completion by November 1975, and rejected the Revenue's contrary inference from a loan request, rent payments, and delayed municipal assessment. On that footing, relief under section 54E was available and the Revenue's challenge failed. Case-Laws Income Tax Thu, 26 Oct 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70649