https://www.taxtmi.com/caselaws?id=192275 The court allowed the appeal by the assessee, confirming eligibility for the section 54F exemption under the Income Tax Act, 1961 for Assessment Year 2006-07. The court held that compliance with investment conditions, rather than mandating the use of sale proceeds for property acquisition, was sufficient to claim the benefit of section 54. The decision referenced a ruling by the Kerala High Court and found the assessee's investments in land purchase and house construction within the prescribed time limit satisfactory. The order was pronounced on 09.09.2011. en-us Fri, 09 Sep 2011 00:00:00 +0530 Tue, 23 May 2017 12:10:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192275 The court allowed the appeal by the assessee, confirming eligibility for the section 54F exemption under the Income Tax Act, 1961 for Assessment Year 2006-07. The court held that compliance with investment conditions, rather than mandating the use of sale proceeds for property acquisition, was sufficient to claim the benefit of section 54. The decision referenced a ruling by the Kerala High Court and found the assessee's investments in land purchase and house construction within the prescribed time limit satisfactory. The order was pronounced on 09.09.2011. Case-Laws Income Tax Fri, 09 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192275