https://www.taxtmi.com/caselaws?id=794516 Section 54 was treated as a beneficial provision and allowed where the assessee had invested within the prescribed period in enforceable rights linked to a specific, identifiable residential flat under a redevelopment arrangement; the later formal conveyance did not defeat the exemption. Capital gains arising from assets transferred to a spouse without consideration were held to fall within section 64(1)(iv), and once clubbed in the transferor's hands, the corresponding section 54 deduction attached to that income could not be denied. Legal charges, brokerage and consultancy fees were held fully deductible because the expenses were actually incurred and proved by invoices and bank statements, and the ownership-share objection was rejected. en-us Wed, 10 Jun 2026 00:00:00 +0530 Tue, 07 Jul 2026 08:39:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794516 Section 54 was treated as a beneficial provision and allowed where the assessee had invested within the prescribed period in enforceable rights linked to a specific, identifiable residential flat under a redevelopment arrangement; the later formal conveyance did not defeat the exemption. Capital gains arising from assets transferred to a spouse without consideration were held to fall within section 64(1)(iv), and once clubbed in the transferor's hands, the corresponding section 54 deduction attached to that income could not be denied. Legal charges, brokerage and consultancy fees were held fully deductible because the expenses were actually incurred and proved by invoices and bank statements, and the ownership-share objection was rejected. Case-Laws Income Tax Wed, 10 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794516