Sec 54F not prescribe any condition as to date of commencement of construction of new house property

Tarun Jalali Vs. DDIT (ITAT Delhi)

Hon’ble Delhi High Court in the case of Commissioner of Income Tax vs Bharti Mishra (supra) has observed that 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 da

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