https://www.taxtmi.com/caselaws?id=18853 The High Court of BOMBAY upheld the Tribunal's decision regarding the interpretation of exemption u/s 54F of the Income-tax Act, 1961. The Court dismissed the Department's application, confirming that the purchase of a residential flat by the assessee, following the sale of office premises resulting in long-term capital gains, qualified for the exemption. The Court agreed with the Tribunal's assessment that the purchase was completed within the required timeframe, emphasizing the date of full consideration payment and possession transfer as decisive factors. en-us Tue, 23 Nov 1993 00:00:00 +0530 Mon, 02 Nov 2009 13:31:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18853 The High Court of BOMBAY upheld the Tribunal's decision regarding the interpretation of exemption u/s 54F of the Income-tax Act, 1961. The Court dismissed the Department's application, confirming that the purchase of a residential flat by the assessee, following the sale of office premises resulting in long-term capital gains, qualified for the exemption. The Court agreed with the Tribunal's assessment that the purchase was completed within the required timeframe, emphasizing the date of full consideration payment and possession transfer as decisive factors. Case-Laws Income Tax Tue, 23 Nov 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18853