https://www.taxtmi.com/caselaws?id=250513 Section 54 relief was interpreted purposively: "purchase" is not confined to a registered sale deed or completed legal title, and substantial investment in an under-construction residential flat within the prescribed period was sufficient for exemption. Payments made to cancel an earlier agreement to sell and to a broker were also treated as expenditure directly connected with the transfer because they were genuine and proximate to completing the sale transaction. On that basis, the capital gains exemption and the related expenditure claim were sustained, with no substantial question of law arising. en-us Tue, 12 Aug 2014 00:00:00 +0530 Sat, 18 Jul 2026 10:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250513 Section 54 relief was interpreted purposively: "purchase" is not confined to a registered sale deed or completed legal title, and substantial investment in an under-construction residential flat within the prescribed period was sufficient for exemption. Payments made to cancel an earlier agreement to sell and to a broker were also treated as expenditure directly connected with the transfer because they were genuine and proximate to completing the sale transaction. On that basis, the capital gains exemption and the related expenditure claim were sustained, with no substantial question of law arising. Case-Laws Income Tax Tue, 12 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250513