https://www.taxtmi.com/caselaws?id=338639 The appellant's appeal for exemption under Section 54F of the Income Tax Act was denied by the Tribunal as construction of the residential house did not commence within the specified period, despite the purchase of a plot and payment of development charges. The Tribunal emphasized that mere payment of development charges does not constitute construction initiation, a prerequisite for claiming the exemption. Legal precedents supported the Tribunal's decision, resulting in the dismissal of the appeal in favor of the department without costs. en-us Thu, 02 Feb 2017 00:00:00 +0530 Wed, 08 Feb 2017 12:44:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338639 The appellant's appeal for exemption under Section 54F of the Income Tax Act was denied by the Tribunal as construction of the residential house did not commence within the specified period, despite the purchase of a plot and payment of development charges. The Tribunal emphasized that mere payment of development charges does not constitute construction initiation, a prerequisite for claiming the exemption. Legal precedents supported the Tribunal's decision, resulting in the dismissal of the appeal in favor of the department without costs. Case-Laws Income Tax Thu, 02 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338639