New Flat Purchase Date Clarified: Late Stamp Duty Registration Doesn’t Void 54F Reason

Sadhana Annasabeh Sonwane Vs ITO (ITAT Mumbai) Money Paid, Flat Allotted, Rights Acquired – ITAT: 54F Cannot Be Denied Just for Late Registration- Substance Over Form: Investment Matters, Not Stamp Paper Date In this case, Assessee sold a plot of land at Nashik on 18.02.2013 for ₹70 lakhs & claimed deduction u/s 54F by reinvesting the sale proceeds in a residential flat at Mumbai for a consideration of ₹76,65,000. While scrutinizing the return, AO noted that the registered agreement for purchase of the flat was executed on 21.06.2017. Since Section 54F(1) requires that the new reside...