https://www.taxtmi.com/caselaws?id=428932 The Tribunal allowed the assessee's appeal regarding the disallowance of deduction under sections 54 and 54F of the Income Tax Act. It was held that booking a flat with a builder constitutes construction, making the assessee eligible for the deduction. The Tribunal emphasized that the capital gain arose within one year of taking possession, supporting the assessee's claim. However, no detailed analysis or decision was provided on the issue of levying interest under sections 234A and 234B. en-us Wed, 12 Oct 2022 00:00:00 +0530 Fri, 14 Oct 2022 08:48:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428932 The Tribunal allowed the assessee's appeal regarding the disallowance of deduction under sections 54 and 54F of the Income Tax Act. It was held that booking a flat with a builder constitutes construction, making the assessee eligible for the deduction. The Tribunal emphasized that the capital gain arose within one year of taking possession, supporting the assessee's claim. However, no detailed analysis or decision was provided on the issue of levying interest under sections 234A and 234B. Case-Laws Income Tax Wed, 12 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428932