https://www.taxtmi.com/caselaws?id=23778 The High Court affirmed the assessee's entitlement to exemption under section 54 of the Income-tax Act, 1961. The dispute centered on whether constructing a new residential unit within the statutory time frame qualified for the exemption, despite objections from the Revenue regarding the nature of construction and timing of concession. The Court ruled in favor of the assessee, emphasizing the broad interpretation of "house property" and upheld the Tribunal's decision, granting the exemption and costs. en-us Thu, 07 Sep 1989 00:00:00 +0530 Thu, 14 Jan 2010 11:55:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23778 The High Court affirmed the assessee's entitlement to exemption under section 54 of the Income-tax Act, 1961. The dispute centered on whether constructing a new residential unit within the statutory time frame qualified for the exemption, despite objections from the Revenue regarding the nature of construction and timing of concession. The Court ruled in favor of the assessee, emphasizing the broad interpretation of "house property" and upheld the Tribunal's decision, granting the exemption and costs. Case-Laws Income Tax Thu, 07 Sep 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23778