Section 54 benefit cannot be denied on installments paid prior to one Year window

Prakash Pandharinath Bakre Vs PCIT (ITAT Jaipur) Benefit under section 54 is available to an individual who has transferred a long term capital asset being a ‘residential House Property’ and the assessee has either purchased one residential house in India within a period of one year before or two years after the date of transfer of the original asset or constructed one residential house in India within a period of three years from the date of transfer of the original asset. In the instant case, the purchase of the new flat is evidenced by the purchase deed dated 10.03.2014 which is within ...