https://www.taxtmi.com/caselaws?id=756921 ITAT Pune held that for exemption under sections 54/54F, the crucial date is when possession and control of new property is given to purchaser, not the registration date. The tribunal found that possession was taken within one year before sale of original asset as evidenced by sale deed, making the assessee eligible for deduction. CIT(A)'s finding that the document was fabricated was rejected as mere allegation without supporting evidence. The covenants in registered sale deed were deemed conclusive absent contrary evidence. en-us Wed, 07 Aug 2024 00:00:00 +0530 Sat, 10 Aug 2024 18:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756921 ITAT Pune held that for exemption under sections 54/54F, the crucial date is when possession and control of new property is given to purchaser, not the registration date. The tribunal found that possession was taken within one year before sale of original asset as evidenced by sale deed, making the assessee eligible for deduction. CIT(A)'s finding that the document was fabricated was rejected as mere allegation without supporting evidence. The covenants in registered sale deed were deemed conclusive absent contrary evidence. Case-Laws Income Tax Wed, 07 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756921