https://www.taxtmi.com/caselaws?id=360711 Section 54F exemption requires purchase or construction of a residential house after transfer of the original capital asset within the prescribed period. An agreement to sell immovable property, without more, does not itself transfer title or complete the transfer; execution and registration of the sale deed effect the transfer. The extended definition of "transfer" does not make every agreement to sell a transfer of the property. Consequently, construction completed before execution of the relevant sale deeds did not qualify for exemption. Deduction was available only for the flat whose sale deed was executed before completion of construction, while claims relating to the remaining flats failed. en-us Tue, 01 May 2018 00:00:00 +0530 Tue, 18 Sep 2018 17:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360711 Section 54F exemption requires purchase or construction of a residential house after transfer of the original capital asset within the prescribed period. An agreement to sell immovable property, without more, does not itself transfer title or complete the transfer; execution and registration of the sale deed effect the transfer. The extended definition of "transfer" does not make every agreement to sell a transfer of the property. Consequently, construction completed before execution of the relevant sale deeds did not qualify for exemption. Deduction was available only for the flat whose sale deed was executed before completion of construction, while claims relating to the remaining flats failed. Case-Laws Income Tax Tue, 01 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360711