https://www.taxtmi.com/highlights?id=34938 Exemption u/s 54 - the assessee had already appropriated the capital gains for the purpose of construction of residential unit. However, construction was not completed within the stipulated period. In our opinion, liberal interpretation to be considered while granting exemption u/s.54 of the Act as it is a beneficial provision - AT en-us Tue, 23 May 2017 08:17:08 +0530 Tue, 23 May 2017 08:17:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=34938 Exemption u/s 54 - the assessee had already appropriated the capital gains for the purpose of construction of residential unit. However, construction was not completed within the stipulated period. In our opinion, liberal interpretation to be considered while granting exemption u/s.54 of the Act as it is a beneficial provision - AT Highlights Income Tax Tue, 23 May 2017 08:17:08 +0530 https://www.taxtmi.com/highlights?id=34938