https://www.taxtmi.com/caselaws?id=177993 The Tribunal allowed the appeal, granting the assessee the benefit of exemption under section 54 of the Income Tax Act. The transaction was deemed as construction of a residential house within three years from the date of transfer of the original asset, meeting the conditions for exemption. The assessee's claim transition from purchase to construction was considered valid, and the Tribunal emphasized that correctness of the claim is crucial in taxation matters. en-us Fri, 23 Aug 2013 00:00:00 +0530 Tue, 13 Dec 2016 16:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177993 The Tribunal allowed the appeal, granting the assessee the benefit of exemption under section 54 of the Income Tax Act. The transaction was deemed as construction of a residential house within three years from the date of transfer of the original asset, meeting the conditions for exemption. The assessee's claim transition from purchase to construction was considered valid, and the Tribunal emphasized that correctness of the claim is crucial in taxation matters. Case-Laws Income Tax Fri, 23 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177993