https://www.taxtmi.com/caselaws?id=770009 ITAT Delhi allowed assessee's appeal regarding LTCG exemption u/s 54. Revenue denied exemption claiming construction completion and possession occurred before property sale date. ITAT followed coordinate bench precedent and Delhi HC ruling in Bharati Mishra case, holding section 54 doesn't require construction to begin after sale of old asset. Tribunal ruled expenditure to make flat habitable within three years from sale date, including pre-sale payments to builder, qualifies for section 54 benefit. AO directed to delete addition. en-us Wed, 30 Apr 2025 00:00:00 +0530 Mon, 05 May 2025 08:37:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770009 ITAT Delhi allowed assessee's appeal regarding LTCG exemption u/s 54. Revenue denied exemption claiming construction completion and possession occurred before property sale date. ITAT followed coordinate bench precedent and Delhi HC ruling in Bharati Mishra case, holding section 54 doesn't require construction to begin after sale of old asset. Tribunal ruled expenditure to make flat habitable within three years from sale date, including pre-sale payments to builder, qualifies for section 54 benefit. AO directed to delete addition. Case-Laws Income Tax Wed, 30 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770009