https://www.taxtmi.com/caselaws?id=770072 ITAT Delhi accepted assessee's declared capital gain of Rs. 42,754/- from shop sale, adopting stamp duty value under section 50C despite lower actual consideration received. Regarding section 54F exemption claim for residential flat purchase, the tribunal noted assessee sold shop in February 2012 but registered flat purchase in April 2016, exceeding the prescribed time limit. However, assessee claimed flat booking in December 2010 with substantial payments in FY 2011-12. ITAT remanded the matter to AO for verification of payment timing and amounts, directing exemption be allowed if substantial payments were made within the statutory period and other section 54F conditions are satisfied. en-us Tue, 29 Apr 2025 00:00:00 +0530 Tue, 06 May 2025 09:58:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770072 ITAT Delhi accepted assessee's declared capital gain of Rs. 42,754/- from shop sale, adopting stamp duty value under section 50C despite lower actual consideration received. Regarding section 54F exemption claim for residential flat purchase, the tribunal noted assessee sold shop in February 2012 but registered flat purchase in April 2016, exceeding the prescribed time limit. However, assessee claimed flat booking in December 2010 with substantial payments in FY 2011-12. ITAT remanded the matter to AO for verification of payment timing and amounts, directing exemption be allowed if substantial payments were made within the statutory period and other section 54F conditions are satisfied. Case-Laws Income Tax Tue, 29 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770072