Section 54F exemption allowable if construction completes within a period of three years from the date of transfer of original asset

Shri Sohanlal Mohanlal Bhandari Vs ACIT (ITAT Pune)

Adverting to the facts of the instant case, it is seen from pages 5 and 6 of the impugned order that the assessee acquired land in two parts for construction of a new residential house, viz, the first part of the plot purchased on 11.10.2010 and the second part of the plot purchased in the year 2011/12. The date of certificate for commencement of construction is 26-07-2011. The assessee actually started construction work on 21-04-2012 which went on up to 27-09-2013 and the date of completion of constru

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