https://www.taxtmi.com/caselaws?id=407759 The Tribunal upheld the assessee's claim for exemption u/s.54F, finding that the AO had adequately examined the issue, and the PCIT's revision was unwarranted. It clarified that the exemption is valid as long as the eligible amount is invested within three years, regardless of completion certificate timing. The Tribunal dismissed concerns about the claimed investment amount, validated the exemption for two plots, and concluded that the AO had properly verified the cost of construction. The appeal was allowed, overturning the PCIT's order. en-us Wed, 19 May 2021 00:00:00 +0530 Thu, 20 May 2021 15:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407759 The Tribunal upheld the assessee's claim for exemption u/s.54F, finding that the AO had adequately examined the issue, and the PCIT's revision was unwarranted. It clarified that the exemption is valid as long as the eligible amount is invested within three years, regardless of completion certificate timing. The Tribunal dismissed concerns about the claimed investment amount, validated the exemption for two plots, and concluded that the AO had properly verified the cost of construction. The appeal was allowed, overturning the PCIT's order. Case-Laws Income Tax Wed, 19 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407759