https://www.taxtmi.com/caselaws?id=248460 The ITAT dismissed the Revenue's appeal and the assessee's cross-objections, upholding the CIT(A)'s decision to allow exemption u/s 54 for investment in properties at Jay Pee Green Greater Noida and Model Town, Delhi. The ITAT held that substantial payment for the property at Jay Pee Green Greater Noida within the specified period qualified for exemption despite delayed possession. Additionally, the cost of improvement to make the property habitable at Model Town, Delhi, was considered part of the investment, granting the exemption. en-us Mon, 26 May 2014 00:00:00 +0530 Fri, 05 Aug 2022 18:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248460 The ITAT dismissed the Revenue's appeal and the assessee's cross-objections, upholding the CIT(A)'s decision to allow exemption u/s 54 for investment in properties at Jay Pee Green Greater Noida and Model Town, Delhi. The ITAT held that substantial payment for the property at Jay Pee Green Greater Noida within the specified period qualified for exemption despite delayed possession. Additionally, the cost of improvement to make the property habitable at Model Town, Delhi, was considered part of the investment, granting the exemption. Case-Laws Income Tax Mon, 26 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248460