Exemption u/s 54F/54 allowed if new property acquired within 1 year before sale; possession date key, not legal transfer.

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Full Text of the Document

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....Assessee entitled to exemption u/s 54F/54 as possession of new house property acquired within one year before sale of original asset; crucial date for purchase is when possession and control given to purchaser, not legal transfer; mere allegation of fabricated document cannot be sustained without evidence; reliance on precedents of Shahzada Begum, Laxmichand Nagda, and T.N. Aravinda Reddy cases.....