https://www.taxtmi.com/caselaws?id=800718 Section 54 purchase timing for an under-construction residential flat is determined by completion, payment of consideration and delivery of possession, rather than solely by the agreement date. Where the agreement predates the prescribed period but instalment payments are made and possession of a completed, habitable flat is delivered within one year before transfer of the original asset, the agreement confers only a right to purchase until the transaction is substantially completed. The completed flat is therefore treated as purchased on the possession date, allowing the Section 54 deduction. en-us Wed, 23 Sep 2026 00:00:00 +0530 Sat, 10 Oct 2026 08:32:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800718 Section 54 purchase timing for an under-construction residential flat is determined by completion, payment of consideration and delivery of possession, rather than solely by the agreement date. Where the agreement predates the prescribed period but instalment payments are made and possession of a completed, habitable flat is delivered within one year before transfer of the original asset, the agreement confers only a right to purchase until the transaction is substantially completed. The completed flat is therefore treated as purchased on the possession date, allowing the Section 54 deduction. Case-Laws Income Tax Wed, 23 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800718