https://www.taxtmi.com/caselaws?id=341147 The case involved the eligibility for exemption under Section 54F of the Income Tax Act for investment in house construction that commenced before the transfer of the original asset. The Tribunal ruled in favor of the assessee, holding that the construction commencement date is irrelevant as long as the construction is completed within three years from the transfer date. The Tribunal emphasized that the statute does not specify a condition for the commencement date of construction, dismissing the Revenue's appeal and deeming the Cross Objection by the assessee not maintainable. en-us Tue, 28 Mar 2017 00:00:00 +0530 Mon, 03 Apr 2017 07:28:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341147 The case involved the eligibility for exemption under Section 54F of the Income Tax Act for investment in house construction that commenced before the transfer of the original asset. The Tribunal ruled in favor of the assessee, holding that the construction commencement date is irrelevant as long as the construction is completed within three years from the transfer date. The Tribunal emphasized that the statute does not specify a condition for the commencement date of construction, dismissing the Revenue's appeal and deeming the Cross Objection by the assessee not maintainable. Case-Laws Income Tax Tue, 28 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341147