https://www.taxtmi.com/caselaws?id=18003 HC allowed the assessee's appeal, holding the Tribunal erred in a pedantic construction of section 54. Substantial instalment payments toward a residential flat under a government scheme constitute sufficient steps toward construction within the two-year period; completion need not be absolute. The court found the departmental circular persuasive and requiring sympathetic application to grant relief. The question was answered in favour of the assessee and against the Revenue. en-us Fri, 15 Mar 1996 00:00:00 +0530 Wed, 15 Oct 2025 11:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18003 HC allowed the assessee's appeal, holding the Tribunal erred in a pedantic construction of section 54. Substantial instalment payments toward a residential flat under a government scheme constitute sufficient steps toward construction within the two-year period; completion need not be absolute. The court found the departmental circular persuasive and requiring sympathetic application to grant relief. The question was answered in favour of the assessee and against the Revenue. Case-Laws Income Tax Fri, 15 Mar 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18003