https://www.taxtmi.com/caselaws?id=788469 Section 54 exemption for capital gains can turn on when the assessee acquires the new residential property in substance, not merely on the date of registration. The Tribunal treated actual possession, supported by the possession letter and occupation certificate, as the decisive factor, and relied on precedent that completion of payment and handing over of possession are the substance of purchase. On the facts, possession of the new property was obtained before transfer of the original property and within the statutory period, so the deduction was available and the addition was deleted. en-us Fri, 06 Mar 2026 00:00:00 +0530 Mon, 23 Mar 2026 08:49:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788469 Section 54 exemption for capital gains can turn on when the assessee acquires the new residential property in substance, not merely on the date of registration. The Tribunal treated actual possession, supported by the possession letter and occupation certificate, as the decisive factor, and relied on precedent that completion of payment and handing over of possession are the substance of purchase. On the facts, possession of the new property was obtained before transfer of the original property and within the statutory period, so the deduction was available and the addition was deleted. Case-Laws Income Tax Fri, 06 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788469