https://www.taxtmi.com/caselaws?id=356590 The Tribunal granted condonation of delay for the Revenue's appeal and admitted it. Regarding the eligibility for deduction under Section 54 of the Income-tax Act, the Tribunal found that the entire sale consideration was reinvested in a new flat within the specified period. Despite construction delays, the assessee fulfilled the requirements of Section 54(2) as possession of the property was not a condition for eligibility. The Tribunal upheld the lower authority's decision, confirming the assessee's entitlement to the deduction, resulting in the dismissal of the Revenue's appeal. en-us Thu, 08 Feb 2018 00:00:00 +0530 Thu, 08 Mar 2018 07:04:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356590 The Tribunal granted condonation of delay for the Revenue's appeal and admitted it. Regarding the eligibility for deduction under Section 54 of the Income-tax Act, the Tribunal found that the entire sale consideration was reinvested in a new flat within the specified period. Despite construction delays, the assessee fulfilled the requirements of Section 54(2) as possession of the property was not a condition for eligibility. The Tribunal upheld the lower authority's decision, confirming the assessee's entitlement to the deduction, resulting in the dismissal of the Revenue's appeal. Case-Laws Income Tax Thu, 08 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356590