https://www.taxtmi.com/caselaws?id=753915 ITAT Rajkot dismissed assessee's appeal claiming LTCG deduction under section 54F. Though assessee sold land and purchased residential flat through agreement to sale and was in possession, the sale deed was not executed/registered. ITAT held that mere agreement to purchase cannot be construed as purchase deed within section 54F provisions. Citing Suraj Lamp Industries case, ITAT ruled that agreement to sale without registered deed of conveyance does not constitute completed transfer. Since statutory conditions under section 54F were not fulfilled due to non-registration of purchase documents, exemption was denied. en-us Wed, 08 May 2024 00:00:00 +0530 Thu, 13 Jun 2024 08:10:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753915 ITAT Rajkot dismissed assessee's appeal claiming LTCG deduction under section 54F. Though assessee sold land and purchased residential flat through agreement to sale and was in possession, the sale deed was not executed/registered. ITAT held that mere agreement to purchase cannot be construed as purchase deed within section 54F provisions. Citing Suraj Lamp Industries case, ITAT ruled that agreement to sale without registered deed of conveyance does not constitute completed transfer. Since statutory conditions under section 54F were not fulfilled due to non-registration of purchase documents, exemption was denied. Case-Laws Income Tax Wed, 08 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753915