https://www.taxtmi.com/caselaws?id=774049 ITAT Mumbai allowed the appeal regarding exemption under Section 54. The assessee sold flats through agreements dated 9/1/2020 and purchased replacement property through agreement dated 18/03/2021, with consideration discharged by 12/03/2021. Despite property initially being in husband's name, the tribunal found the assessee was the real economic owner who executed transactions and received consideration in her account. The purchase was completed within the mandatory two-year period under Section 54. Lower authorities erred in denying exemption by focusing only on fund rotation without considering the complete transaction timeline and proper discharge of consideration within stipulated timeframe. en-us Mon, 09 Jun 2025 00:00:00 +0530 Sat, 25 Jul 2026 10:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774049 ITAT Mumbai allowed the appeal regarding exemption under Section 54. The assessee sold flats through agreements dated 9/1/2020 and purchased replacement property through agreement dated 18/03/2021, with consideration discharged by 12/03/2021. Despite property initially being in husband's name, the tribunal found the assessee was the real economic owner who executed transactions and received consideration in her account. The purchase was completed within the mandatory two-year period under Section 54. Lower authorities erred in denying exemption by focusing only on fund rotation without considering the complete transaction timeline and proper discharge of consideration within stipulated timeframe. Case-Laws Income Tax Mon, 09 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774049