https://www.taxtmi.com/caselaws?id=254850 Section 54F exemption is available where the assessee constructs a new residential house within the prescribed period, and municipal approval of the building plan is not a mandatory statutory for the relief. The authorities had denied exemption because the construction proceeded without approved plans, but the record still evidenced a new residential building, including a municipal order noting unauthorised construction. The governing requirement is completion of residential construction, not prior approval by the local authority, so absence of sanctioned plans by itself does not defeat the exemption. en-us Wed, 12 Mar 2014 00:00:00 +0530 Tue, 14 Jul 2026 16:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254850 Section 54F exemption is available where the assessee constructs a new residential house within the prescribed period, and municipal approval of the building plan is not a mandatory statutory for the relief. The authorities had denied exemption because the construction proceeded without approved plans, but the record still evidenced a new residential building, including a municipal order noting unauthorised construction. The governing requirement is completion of residential construction, not prior approval by the local authority, so absence of sanctioned plans by itself does not defeat the exemption. Case-Laws Income Tax Wed, 12 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254850