https://www.taxtmi.com/caselaws?id=785722 Disallowance of deduction under sections 54B and 54F in relation to sale of flats and subsequent capital gain taxation is examined. The document states the assessee is not entitled to deductions under either provision, and capital gain arises on sale of flats by computing sale consideration less cost of acquisition. Transfer under a registered joint venture agreement is treated as the date of transfer for acquisition timing, and market value of the assessees share in flats at handover is treated as cost of acquisition. The matter is restored to the assessing officer for verification and recomputation of long term capital gain and tax liability. en-us Wed, 21 Jan 2026 00:00:00 +0530 Fri, 30 Jan 2026 09:22:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785722 Disallowance of deduction under sections 54B and 54F in relation to sale of flats and subsequent capital gain taxation is examined. The document states the assessee is not entitled to deductions under either provision, and capital gain arises on sale of flats by computing sale consideration less cost of acquisition. Transfer under a registered joint venture agreement is treated as the date of transfer for acquisition timing, and market value of the assessees share in flats at handover is treated as cost of acquisition. The matter is restored to the assessing officer for verification and recomputation of long term capital gain and tax liability. Case-Laws Income Tax Wed, 21 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785722