https://www.taxtmi.com/caselaws?id=774883 ITAT Hyderabad held that assessee's claim for exemption under Section 54F on capital gains requires verification of actual investment in new residential house construction within prescribed period. The matter was remanded to AO to verify investment claims including plot purchase made 1 1/2 years before capital asset sale. The tribunal directed that if exemption is denied for AY 2022-23, appropriate adjustments must be made considering tax already realized on the same capital gains in AY 2024-25 when the new house was transferred during lock-in period, to prevent double taxation as per constitutional provisions. en-us Thu, 12 Jun 2025 00:00:00 +0530 Tue, 15 Jul 2025 14:38:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774883 ITAT Hyderabad held that assessee's claim for exemption under Section 54F on capital gains requires verification of actual investment in new residential house construction within prescribed period. The matter was remanded to AO to verify investment claims including plot purchase made 1 1/2 years before capital asset sale. The tribunal directed that if exemption is denied for AY 2022-23, appropriate adjustments must be made considering tax already realized on the same capital gains in AY 2024-25 when the new house was transferred during lock-in period, to prevent double taxation as per constitutional provisions. Case-Laws Income Tax Thu, 12 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774883