Taxpayer Qualifies for Section 54 LTCG Deduction: New Property Possession Within One Year of Original Property Sale.

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Full Text of the Document

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....Deduction u/s 54 - LTCG - as the possession of the new residential property was delivered to the assessee within a period of one year prior to the transfer of the property under consideration, thus the purchase of the same could safely be held to have been substantially effected on the said date.....