https://www.taxtmi.com/caselaws?id=366738 Section 54 relief may be available where the new residential flat is purchased within the prescribed period counted from the date of an agreement to sell, if that agreement extinguishes the transferor's rights and creates enforceable rights in favour of the transferee under section 2(47). On these facts, the agreement to sell was treated as the relevant date of transfer because the vendee obtained a right to specific performance and the assessee could no longer deal with the old property inconsistently with that agreement. The later registration of the conveyance deed was not treated as the operative transfer date, and exemption under section 54 was allowable. en-us Fri, 07 Sep 2018 00:00:00 +0530 Sun, 09 Sep 2018 13:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366738 Section 54 relief may be available where the new residential flat is purchased within the prescribed period counted from the date of an agreement to sell, if that agreement extinguishes the transferor's rights and creates enforceable rights in favour of the transferee under section 2(47). On these facts, the agreement to sell was treated as the relevant date of transfer because the vendee obtained a right to specific performance and the assessee could no longer deal with the old property inconsistently with that agreement. The later registration of the conveyance deed was not treated as the operative transfer date, and exemption under section 54 was allowable. Case-Laws Income Tax Fri, 07 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366738