Non Completion / Registration of Property & Deduction U/s. 54/54F

Advocate Akhilesh Kumar Sah Claiming Of Deduction Under Section 54F Of The Income Tax Act, 1961 When Property Builder Could Not Complete The Flat While Assessee Fulfilled Condition Under Above-Mentioned Section. Introduction: Section 54F of the Income Tax Act, 1961 (for short ‘the Act’) deals with Capital gain on transfer of certain capital assets, not to be charged in case of investment in residential house. A lot of appeals are arising in respect of claim of deduction under section 54 of the Act. Recently, in Rajeev B. Shah vs. ITO [ITA No.262/Mum/2015, decided on 08/07/2016], the appel...