Section 54F Relief Allowed Despite Sale Deed After Two Years- ITAT Holds Flat Booking & Substantial Payment Satisfy the Law

Viswanathan Padmanabhan Vs ITO (ITAT Bangalore) U/s 54F Relief Allowed Despite Sale Deed After Two Years- ITAT Holds Flat Booking & Substantial Payment Satisfy the Law The Bangalore ITAT granted deduction under Section 54F to an assessee who had sold a property on 07.01.2015 and invested the capital gains in a flat booked with a builder, even though the registered sale deed for the new flat was executed after the expiry of two years from the date of transfer. The Tribunal held that substantial investment and acquisition of rights in the property within the prescribed period are more import...