Unregistered Sale Agreement Can Qualify for Section 54 Relief: Hyderabad ITAT

ACIT Vs Prasanna Lakshmi Chakka (ITAT Hyderabad) Unregistered Sale Agreement Can Still Qualify for Section 54 Relief – Hyderabad ITAT Says “Investment”, Not Registered Title, Is the Real Test The Hyderabad ITAT reiterated that exemption under section 54 cannot be denied merely because the new residential property was acquired through an unregistered agreement to sell and not through a registered sale deed. The Tribunal held that what is relevant for section 54 is substantial investment towards acquisition of a residential house within the prescribed period and not formal transfer of ...