https://www.taxtmi.com/caselaws?id=768172 The ITAT Pune confirmed denial of LTCG deduction under section 54F. The assessee sold an original asset but failed to meet statutory requirements for claiming deduction. Evidence showed the new house construction began before the original asset sale, with plot purchase, plan approval, and construction permissions obtained prior to sale. The valuation report indicated construction completion between 2005-08, while the assessee was required to either purchase a house within one year (2006-2009) or construct within three years (2007-2010) from the sale date of 19.01.2006. Since neither condition was satisfied, the deduction was rightfully denied. en-us Fri, 28 Mar 2025 00:00:00 +0530 Wed, 02 Apr 2025 08:35:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768172 The ITAT Pune confirmed denial of LTCG deduction under section 54F. The assessee sold an original asset but failed to meet statutory requirements for claiming deduction. Evidence showed the new house construction began before the original asset sale, with plot purchase, plan approval, and construction permissions obtained prior to sale. The valuation report indicated construction completion between 2005-08, while the assessee was required to either purchase a house within one year (2006-2009) or construct within three years (2007-2010) from the sale date of 19.01.2006. Since neither condition was satisfied, the deduction was rightfully denied. Case-Laws Income Tax Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768172