Exemption u/s 54F not admissible towards purchase of plot of land

Bhag Chand Jain, through its Legal Heir Vs DCIT (ITAT Jabalpur) ITAT Jabalpur held that as per the sale deed what was purchased was only a plot of land for construction of residential house. However, in absence of construction of residential house thereon, exemption under section 54F of the Income Tax Act not admissible. Facts- The assessee having expired on 03/05/2021, his son and legal heir, Shri Vikrant Kumar Jain, stands brought on record as his legal representative u/s. 159 of the Act, filing revised Form 36 (memorandum of appeal) before the Tribunal. The issue, as would be apparent from ...