https://www.taxtmi.com/caselaws?id=233488 The Appellate Tribunal ITAT Hyderabad allowed the appeal of the assessee regarding the denial of exemption under section 54 of the Income Tax Act. The Tribunal held that the assessee's claim for exemption could not be denied despite the delayed construction of the house due to the developer's failure. It directed the Assessing Officer to allow the exemption claimed by the assessee for the relevant assessment year, emphasizing the importance of meeting the conditions for exemption under section 54 and the tax implications of not completing construction within the specified period. en-us Fri, 15 Feb 2013 00:00:00 +0530 Wed, 15 Apr 2015 17:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=233488 The Appellate Tribunal ITAT Hyderabad allowed the appeal of the assessee regarding the denial of exemption under section 54 of the Income Tax Act. The Tribunal held that the assessee's claim for exemption could not be denied despite the delayed construction of the house due to the developer's failure. It directed the Assessing Officer to allow the exemption claimed by the assessee for the relevant assessment year, emphasizing the importance of meeting the conditions for exemption under section 54 and the tax implications of not completing construction within the specified period. Case-Laws Income Tax Fri, 15 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=233488