Tag Archives: Construction

Section 54F Exemption Allowed if Construction started before Sale of Asset : ITAT

By | March 8, 2022

Section 54F Allowed if Construction started before Sale of Asset : ITAT IN THE ITAT CHENNAI BENCH ‘D’ Mrs. Baskarababu Usha v. Income-tax Officer MAHAVIR SINGH, VICE-PRESIDENT AND G. MANJUNATHA, ACCOUNTANT MEMBER IT APPEAL NOS. 521 AND 522 (CHNY.) OF 2020 [ASSESSMENT YEAR 2016-17] NOVEMBER  30, 2021 Ranga Ramanujam, C.A. for the Appellant. Ms. R. Anita, Addl. CIT for the… Read More »

Section 54F Allowed even if construction not completed in 3 years

By | October 27, 2015

Facts of the Case  Assessee sold property situated at Dr.Shivaram Karanth Nagar under a sale deed dated 06.10.2008 and capital gain on sale of said property was invested by the assessee by purchasing a residential site at Nagarbhavi, II Stage on 13.10.2008.Assessee on 02.06.2010  obtained approval of the building plan from the local authority namely… Read More »