Section 54F | Booking of bare shell of a flat | Construction or Purchase

ACIT Vs. Akshya Sobti (ITAT Delhi)

In the instant case, since the assessee entered into an agreement for construction of a bare shell of a house by periodic payment of installments and he had to carry the internal fit-outs to make it live­able as per Annexure-V of the agreement with the Builder Company, within Six months from the date of certificate of occupation from the competent Authorities, this is to be treated as the case of construction. Further, the construction has been completed within three years of the sale of original asset, which is accep

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