https://www.taxtmi.com/caselaws?id=219674 The ITAT affirmed the CIT(A)'s decision to deny exemption u/s. 54F for the assessment year 2006-07. The assessee's appeal was dismissed as they failed to meet the statutory requirements, including non-construction within the stipulated time, lack of evidence for merging flats, and overall ineligibility for the deduction u/s. 54F. The ITAT emphasized the importance of timely compliance and substantial evidence to support exemption claims, underscoring the necessity of strict adherence to legal provisions in tax matters. en-us Wed, 31 Oct 2012 00:00:00 +0530 Sat, 22 Dec 2012 10:02:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219674 The ITAT affirmed the CIT(A)'s decision to deny exemption u/s. 54F for the assessment year 2006-07. The assessee's appeal was dismissed as they failed to meet the statutory requirements, including non-construction within the stipulated time, lack of evidence for merging flats, and overall ineligibility for the deduction u/s. 54F. The ITAT emphasized the importance of timely compliance and substantial evidence to support exemption claims, underscoring the necessity of strict adherence to legal provisions in tax matters. Case-Laws Income Tax Wed, 31 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219674