https://www.taxtmi.com/caselaws?id=262357 The Court upheld the Appellate Commissioner's decision, affirming the assessee's entitlement to deduction under Section 54F of the Income Tax Act despite not completing construction within three years. The Court emphasized the Act's purpose of promoting residential construction and clarified that completion of construction or habitability within the timeframe was not required, only the investment within the stipulated period. The Court considered the liberal interpretation of the provision, supporting the Appellate Commissioner's decision based on previous judgments and the building's near-completion status and occupation by the assessee. The appeal was dismissed, and the Tribunal's order was affirmed. en-us Mon, 13 Jul 2015 00:00:00 +0530 Sat, 08 Aug 2015 08:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262357 The Court upheld the Appellate Commissioner's decision, affirming the assessee's entitlement to deduction under Section 54F of the Income Tax Act despite not completing construction within three years. The Court emphasized the Act's purpose of promoting residential construction and clarified that completion of construction or habitability within the timeframe was not required, only the investment within the stipulated period. The Court considered the liberal interpretation of the provision, supporting the Appellate Commissioner's decision based on previous judgments and the building's near-completion status and occupation by the assessee. The appeal was dismissed, and the Tribunal's order was affirmed. Case-Laws Income Tax Mon, 13 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262357