https://www.taxtmi.com/caselaws?id=755561 The ITAT Kolkata allowed the assessee's appeal regarding LTCG exemption under section 54F. The court held that exemption cannot be denied due to technical lapses like delayed property registration, provided the assessee invested the required amount within the stipulated period and eventually registered the property. Regarding addition under section 56(2)(vii)(b), the court found no addition warranted as the difference between DVO valuation and assessee's declared value was less than 5%, and the assessee had invested sufficient funds for house construction exceeding the claimed deduction amount. en-us Thu, 11 Jul 2024 00:00:00 +0530 Mon, 15 Jul 2024 08:19:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755561 The ITAT Kolkata allowed the assessee's appeal regarding LTCG exemption under section 54F. The court held that exemption cannot be denied due to technical lapses like delayed property registration, provided the assessee invested the required amount within the stipulated period and eventually registered the property. Regarding addition under section 56(2)(vii)(b), the court found no addition warranted as the difference between DVO valuation and assessee's declared value was less than 5%, and the assessee had invested sufficient funds for house construction exceeding the claimed deduction amount. Case-Laws Income Tax Thu, 11 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755561