https://www.taxtmi.com/highlights?id=62467 Disallowance of exemption u/s 54 within the scope of section 154 - if assessee has received the entire sale consideration before one year and handed over the possession, then affectively assessee has transferred the property. If for extreme and unavoidable circumstances there is slight delay in registering the property exemption cannot be denied. Here the delay is only 11 days. Thus, no adverse inference can be drawn to withdraw the exemption. - AT en-us Wed, 16 Mar 2022 13:05:51 +0530 Wed, 16 Mar 2022 13:05:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=62467 Disallowance of exemption u/s 54 within the scope of section 154 - if assessee has received the entire sale consideration before one year and handed over the possession, then affectively assessee has transferred the property. If for extreme and unavoidable circumstances there is slight delay in registering the property exemption cannot be denied. Here the delay is only 11 days. Thus, no adverse inference can be drawn to withdraw the exemption. - AT Highlights Income Tax Wed, 16 Mar 2022 13:05:51 +0530 https://www.taxtmi.com/highlights?id=62467