Deduction U/s. 54F available on Payment towards construction of house prior to sale of flat

Tarun Jalali Vs Dy. DIT (ITAT Delhi) sub-section 4 of section 54F prescribes appropriation of sale consideration of original asset towards provision of new asset made within one year before the date of transfer of original asset, two years from the date of transfer or construction of new in-house property, within three years from the date of transfer of original receipt but the Act does not prescribe any condition as to the date of commencement of construction of house property which may be commenced even before the date of transfer of original receipt. Similarly, the   (Kar.) had expressed...