https://www.taxtmi.com/caselaws?id=397415 Section 54F exemption was allowed where the disputed Malibu Town transaction was found to constitute a transfer under section 2(47)(vi) read with section 269UA: the agreement to sell, payment of consideration, and later registered conveyance showed that the transaction had been acted upon, and the registered deed was treated as relating back to the agreement date. The assessee's other residential property was only a fractional, jointly held interest, which did not amount to exclusive ownership of more than one residential house for the proviso to section 54F. The capital gains exemption was therefore allowed and the disallowance deleted. en-us Thu, 13 Aug 2020 00:00:00 +0530 Mon, 28 Dec 2020 15:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397415 Section 54F exemption was allowed where the disputed Malibu Town transaction was found to constitute a transfer under section 2(47)(vi) read with section 269UA: the agreement to sell, payment of consideration, and later registered conveyance showed that the transaction had been acted upon, and the registered deed was treated as relating back to the agreement date. The assessee's other residential property was only a fractional, jointly held interest, which did not amount to exclusive ownership of more than one residential house for the proviso to section 54F. The capital gains exemption was therefore allowed and the disallowance deleted. Case-Laws Income Tax Thu, 13 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397415