Case Law Details
Case Name : Pankaj Wadhwani Vs Commissioner of Income-tax-I, Indore (ITAT Indore)
Appeal Number : IT Appeal No. 58 (IND.) OF 2011
Date of Judgement/Order : 25/01/2012
Related Assessment Year : 2006-07
Courts :
All ITAT ITAT Indore
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Where assessee sold his agricultural land and deposited part of consideration with a builder for purchase of a plot on which no construction activity could be started within a period of 3 years because no plot was ever handed over to him, benefit of section 54F was not available to assessee – The main thrust of the section 54F is construction of a residential house; the Legislation in its wisdom has specifically provided the period of three years, it cannot be enlarged to indefinite period.
IN THE ITAT INDORE BENCH
Pankaj Wadhwani
V/s.
Commissioner of Income-tax-I, Indore
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