Deduction U/s. 54F not allowable if constructed house are not habitable

As seen from the above provisions of section 54F, the assessee is required to purchase with a period of one year before or two years after the date on which the transfer took place or constructed within a period of three years after the date of transfer, any new residential house. Before the lower authorities, the learned AR took a plea that the assessee has purchased the house bearing No. 1-50/3 at Kokapet village, Hyderabad vide sale deed dated 15.12.200. The AR also taken a plea that the assessee made a payment of Rs. 106 lakhs towards improvement thereof and

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