Section 54F not available if construction of house takes place prior to transfer

CA Sandeep Kanoi

Section 54F not available if construction of residential house takes place prior to date of transfer of long term capital asset

With respect to holding the Assessee to be not eligible for deduction u/s 54F, it is an undisputed fact and also noted by CIT(A) that the transfer with respect to 4 flats by means of registered sales deed took place in FY 2008-09 relevant to AY 2009-10. He has also given a finding that the building was constructed between 1.2.2007 and 23.10.2008

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