No Section 54F exemption if construction not started within Time

Court has held that no benefit under Section 54F of the Act could be given to the assessee, who had failed to fulfil the primary ingredients of proving either the constructions of a house or the purchase of a house. In fact there is not such a whisper that the construction had been started or that any portion at all had been built. Relevant Extract of the Judgment The facts of the case are that the assessee was having half share in his ancestral property situated at Bodla in District Agra admeasuring 3496 Sqm. The same was sold for Rs.88.00 lacs and in the year 2005-06 the assessee invested an...