https://www.taxtmi.com/caselaws?id=470629 Section 54F exemption for a residential house constructed within the prescribed period includes the cost of land on which it is built, even where the land was acquired more than one year before the transfer. Construction may commence before transfer, and sale proceeds need not be directly used for construction; the full investment therefore qualified for exemption. Land gifted to unauthorised occupants to obtain vacant possession and enable sale was allowable as cost of improvement because gift deeds, revenue records, encumbrance certificates and other evidence substantiated the relocation, with no adverse remand finding. en-us Tue, 25 Mar 2025 00:00:00 +0530 Sat, 01 Aug 2026 19:57:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470629 Section 54F exemption for a residential house constructed within the prescribed period includes the cost of land on which it is built, even where the land was acquired more than one year before the transfer. Construction may commence before transfer, and sale proceeds need not be directly used for construction; the full investment therefore qualified for exemption. Land gifted to unauthorised occupants to obtain vacant possession and enable sale was allowable as cost of improvement because gift deeds, revenue records, encumbrance certificates and other evidence substantiated the relocation, with no adverse remand finding. Case-Laws Income Tax Tue, 25 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470629