https://www.taxtmi.com/caselaws?id=373313 The High Court upheld the decision of the Income Tax Appellate Tribunal regarding the exemption under Section 54F of the Income Tax Act. The Tribunal found that the property transferred, which was initially booked in 1981 but completed in 2011 due to court intervention, did not qualify as a residential house at the time of transfer. Therefore, the assessee was allowed the exemption under Section 54F for long-term capital gains. The High Court dismissed the Revenue's appeal, affirming the Tribunal's decision based on the unique circumstances of the case. en-us Mon, 07 Jan 2019 00:00:00 +0530 Thu, 10 Jan 2019 11:08:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373313 The High Court upheld the decision of the Income Tax Appellate Tribunal regarding the exemption under Section 54F of the Income Tax Act. The Tribunal found that the property transferred, which was initially booked in 1981 but completed in 2011 due to court intervention, did not qualify as a residential house at the time of transfer. Therefore, the assessee was allowed the exemption under Section 54F for long-term capital gains. The High Court dismissed the Revenue's appeal, affirming the Tribunal's decision based on the unique circumstances of the case. Case-Laws Income Tax Mon, 07 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373313