https://www.taxtmi.com/caselaws?id=400591 Section 54G exemption depended on a valid urban-area declaration in force for the relevant period, and the 27.04.2006 notification for Anekal operated only from its publication date because neither the statute nor the notification gave it retrospective effect. The earlier notification under a different shifting-related provision could not be applied to Section 54G, and exemption provisions were required to be construed strictly. Reliance on Fibre Boards Private Limited did not assist because the statutory three-year window and the conditions for use of sale proceeds were not satisfied on the facts. The assessee was therefore not entitled to Section 54G relief for the assessment year in question. en-us Wed, 04 Nov 2020 00:00:00 +0530 Thu, 24 Dec 2020 17:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400591 Section 54G exemption depended on a valid urban-area declaration in force for the relevant period, and the 27.04.2006 notification for Anekal operated only from its publication date because neither the statute nor the notification gave it retrospective effect. The earlier notification under a different shifting-related provision could not be applied to Section 54G, and exemption provisions were required to be construed strictly. Reliance on Fibre Boards Private Limited did not assist because the statutory three-year window and the conditions for use of sale proceeds were not satisfied on the facts. The assessee was therefore not entitled to Section 54G relief for the assessment year in question. Case-Laws Income Tax Wed, 04 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400591