https://www.taxtmi.com/caselaws?id=410642 The Tribunal upheld the CIT(A)'s decision to grant exemption under section 54F of the Income-tax Act, 1961 to the assessee. It was determined that the timely investment in construction, even if incomplete within the stipulated period, fulfilled the requirements for exemption. The completion of construction beyond the three-year period did not affect the eligibility for exemption, emphasizing the importance of investing the net consideration within the prescribed timeline. The Revenue's appeal was dismissed, affirming the decision in favor of the assessee. en-us Thu, 05 Aug 2021 00:00:00 +0530 Thu, 05 Aug 2021 20:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410642 The Tribunal upheld the CIT(A)'s decision to grant exemption under section 54F of the Income-tax Act, 1961 to the assessee. It was determined that the timely investment in construction, even if incomplete within the stipulated period, fulfilled the requirements for exemption. The completion of construction beyond the three-year period did not affect the eligibility for exemption, emphasizing the importance of investing the net consideration within the prescribed timeline. The Revenue's appeal was dismissed, affirming the decision in favor of the assessee. Case-Laws Income Tax Thu, 05 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410642