https://www.taxtmi.com/caselaws?id=410072 The Court ruled in favor of the appellant, finding that they fulfilled all mandatory requirements for exemption under Section 54F of the Income Tax Act. The Court emphasized that the exemption should be liberally interpreted to promote housing investment and tax savings on capital gains. It was held that the appellant's property acquisition through an agreement with a builder and registration within three years of the share transfer met the construction criteria, entitling them to the exemption. The tribunal's decision against the appellant was overturned, and the appellant's claim under Section 54F was allowed. en-us Mon, 12 Jul 2021 00:00:00 +0530 Tue, 22 Feb 2022 16:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410072 The Court ruled in favor of the appellant, finding that they fulfilled all mandatory requirements for exemption under Section 54F of the Income Tax Act. The Court emphasized that the exemption should be liberally interpreted to promote housing investment and tax savings on capital gains. It was held that the appellant's property acquisition through an agreement with a builder and registration within three years of the share transfer met the construction criteria, entitling them to the exemption. The tribunal's decision against the appellant was overturned, and the appellant's claim under Section 54F was allowed. Case-Laws Income Tax Mon, 12 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410072