Deduction u/s. 54F not confined to registered sale deed or possession

DCIT Vs Syama Reddy Mali Reddy (ITAT Hyderabad)

ITAT Hyderabad held that once it is proved that amount is invested towards purchase of new residential property then deduction under section 54F of the Income Tax Act cannot be denied merely because property got registered beyond stipulated period.

Facts- During original assessment, AO declined the assessee’s claim for deduction under Section 54 of the Act on two grounds, viz. the assessee had not purchased the new residential house within two years from the date of transfer of the original asset; and the

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