https://www.taxtmi.com/article/detailed?id=11273 The tribunal construed purchase in Sections 54/54F to include acquisitions effected other than by registered sale deed, observing that legal title transfer by sale deed is distinct from acquisition of beneficial ownership which may arise via agreement to sell or power of attorney; payments from long term capital gains toward such acquisitions satisfy the statutory purchase/construction requirement. The tribunal also treated properties described as house, plot, cottage, farmhouse or villa as qualifying residential assets, concluding they are neither commercial nor agricultural and therefore qualify for exemption under Section 54F. en-us Sat, 01 Apr 2023 09:42:09 +0530 Sat, 01 Apr 2023 09:42:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11273 The tribunal construed purchase in Sections 54/54F to include acquisitions effected other than by registered sale deed, observing that legal title transfer by sale deed is distinct from acquisition of beneficial ownership which may arise via agreement to sell or power of attorney; payments from long term capital gains toward such acquisitions satisfy the statutory purchase/construction requirement. The tribunal also treated properties described as house, plot, cottage, farmhouse or villa as qualifying residential assets, concluding they are neither commercial nor agricultural and therefore qualify for exemption under Section 54F. Articles Income Tax Sat, 01 Apr 2023 09:42:09 +0530 https://www.taxtmi.com/article/detailed?id=11273