https://www.taxtmi.com/caselaws?id=241746 The Tribunal upheld the CIT(A)'s decision, confirming the assessee's eligibility for the Section 54F exemption. It was determined that the property transfer occurred with the Civil Court's order on 16.4.2005, and the construction of the new residential house was completed within the stipulated period. The use of borrowed funds for construction did not impact the exemption eligibility. As a result, the department's appeal was dismissed, and the cross-objection filed by the assessee was also dismissed as infructuous. en-us Wed, 10 Apr 2013 00:00:00 +0530 Tue, 31 Dec 2013 10:12:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241746 The Tribunal upheld the CIT(A)'s decision, confirming the assessee's eligibility for the Section 54F exemption. It was determined that the property transfer occurred with the Civil Court's order on 16.4.2005, and the construction of the new residential house was completed within the stipulated period. The use of borrowed funds for construction did not impact the exemption eligibility. As a result, the department's appeal was dismissed, and the cross-objection filed by the assessee was also dismissed as infructuous. Case-Laws Income Tax Wed, 10 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241746