https://www.taxtmi.com/caselaws?id=58893 The Tribunal allowed the assessee's appeal for exemption under section 54, granting relief from capital gains tax. It held that the relevant date for purchase should be when the new flat was ready for occupation, not the agreement date, emphasizing the complexities of house purchases in metropolitan areas. The decision aimed to ensure taxpayers are not unfairly denied benefits under the Income Tax Act, 1961, by considering the unique aspects of flat ownership transactions. en-us Mon, 01 Oct 1990 00:00:00 +0530 Tue, 10 Oct 2017 13:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58893 The Tribunal allowed the assessee's appeal for exemption under section 54, granting relief from capital gains tax. It held that the relevant date for purchase should be when the new flat was ready for occupation, not the agreement date, emphasizing the complexities of house purchases in metropolitan areas. The decision aimed to ensure taxpayers are not unfairly denied benefits under the Income Tax Act, 1961, by considering the unique aspects of flat ownership transactions. Case-Laws Income Tax Mon, 01 Oct 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58893