Capital gain benefit u/s 54F allowed even if construction of residential house not fully completed in 3 years

Sec. 54F – benefit allowed, on completing the major construction of resi. House rather fully habitable house property.

Karnataka High Court held In the case of The CIT & ITO vs. Smt. B S Shanthakumari that the essence of provisions u/s 54F is to ensure that assessee who received capital gains would invest the same by constructing a residential house and once it is established that consideration so received on transfer of his

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