https://www.taxtmi.com/caselaws?id=765218 ITAT Delhi ruled in favor of assessee regarding LTCG deduction u/s 54F despite failure to obtain possession certificate within statutory time limit. Tribunal held that when assessee paid full capital gains amount to builder but possession was delayed due to builder's default in completing construction, benefit cannot be denied. Court emphasized Section 54F is beneficial provision requiring liberal interpretation. Assessee who completes payment obligations within prescribed time deserves exemption even if possession is delayed due to circumstances beyond their control, particularly given widespread builder delays in project completion. en-us Wed, 15 Jan 2025 00:00:00 +0530 Tue, 28 Jan 2025 08:24:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765218 ITAT Delhi ruled in favor of assessee regarding LTCG deduction u/s 54F despite failure to obtain possession certificate within statutory time limit. Tribunal held that when assessee paid full capital gains amount to builder but possession was delayed due to builder's default in completing construction, benefit cannot be denied. Court emphasized Section 54F is beneficial provision requiring liberal interpretation. Assessee who completes payment obligations within prescribed time deserves exemption even if possession is delayed due to circumstances beyond their control, particularly given widespread builder delays in project completion. Case-Laws Income Tax Wed, 15 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765218