ITAT Allows Section 54 Deduction despite Registration Delay as Payments Made in Time

Indihaf Jamal Mohamed Vs ITO (ITAT Chennai)

Registration Delay Not Fatal: Builder’s Delay Can’t Deny 54 Deduction- ITAT Says 54 Allowed If Payments Made in Time

Assessee, a retired Assistant Registrar, sold his residential house on 16.09.2015 for Rs.60 lakh & claimed deduction u/s 54 after reinvesting Rs.48,00,114 in a flat at “Lake Dugar”, Ambattur. AO denied the claim solely because the registration of the new flat occurred on 24.01.2019—beyond one year—stating that “transfer has not take

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