https://www.taxtmi.com/caselaws?id=375644 Deduction under section 54F was allowable where the assessee substantiated that sale consideration was invested in construction of a residential bungalow through construction permission, approved plan, agreement, payment receipts and completion certificate. The relevant inquiry was the nexus between the sale proceeds and construction of the residential house, not merely whether the underlying land stood in the assessee's name. Revenue's reliance on cases involving absence of title or supporting evidence was distinguished on facts. The disallowance was therefore not sustainable and the assessee was entitled to the section 54F deduction. en-us Wed, 20 Feb 2019 00:00:00 +0530 Fri, 22 Feb 2019 17:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375644 Deduction under section 54F was allowable where the assessee substantiated that sale consideration was invested in construction of a residential bungalow through construction permission, approved plan, agreement, payment receipts and completion certificate. The relevant inquiry was the nexus between the sale proceeds and construction of the residential house, not merely whether the underlying land stood in the assessee's name. Revenue's reliance on cases involving absence of title or supporting evidence was distinguished on facts. The disallowance was therefore not sustainable and the assessee was entitled to the section 54F deduction. Case-Laws Income Tax Wed, 20 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375644