https://www.taxtmi.com/caselaws?id=796010 Investment in a new residential house qualifies for Section 54F exemption where an allotment letter records adjustment of the sale consideration towards a flat under construction and the allotment remains valid. Circular No. 471 treats allotment under a construction scheme as the relevant acquisition event; a later conveyance executed after stamp-duty payment does not, by itself, show that the house was not acquired or that exemption conditions were breached. The allowable Section 54F deduction is therefore to be computed in accordance with law. en-us Mon, 27 Jul 2026 00:00:00 +0530 Thu, 30 Jul 2026 08:52:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=796010 Investment in a new residential house qualifies for Section 54F exemption where an allotment letter records adjustment of the sale consideration towards a flat under construction and the allotment remains valid. Circular No. 471 treats allotment under a construction scheme as the relevant acquisition event; a later conveyance executed after stamp-duty payment does not, by itself, show that the house was not acquired or that exemption conditions were breached. The allowable Section 54F deduction is therefore to be computed in accordance with law. Case-Laws Income Tax Mon, 27 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=796010