https://www.taxtmi.com/caselaws?id=410398 Deduction under section 54F could not be denied merely because the conveyance deed for the residential property was not yet registered, where the assessee had paid consideration, obtained possession, and produced supporting documents such as the agreement to sell, power of attorney, possession letter, utility bills and photographs. The Tribunal applied the wider income-tax concept of ownership and treated registration of a formal sale deed as non-decisive once possession and dominion over the property were established. It also construed section 54F as a beneficial provision. The addition made by the Assessing Officer was therefore unjustified. en-us Fri, 30 Jul 2021 00:00:00 +0530 Sat, 31 Jul 2021 09:47:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410398 Deduction under section 54F could not be denied merely because the conveyance deed for the residential property was not yet registered, where the assessee had paid consideration, obtained possession, and produced supporting documents such as the agreement to sell, power of attorney, possession letter, utility bills and photographs. The Tribunal applied the wider income-tax concept of ownership and treated registration of a formal sale deed as non-decisive once possession and dominion over the property were established. It also construed section 54F as a beneficial provision. The addition made by the Assessing Officer was therefore unjustified. Case-Laws Income Tax Fri, 30 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410398