Tribunal held that as per the agreement with the developer, the developer was supposed to hand over the possession of plot within 18 months from the date of the allotment letter. However, the developer did not deliver possession. Since the delay was not on the part of the assessee but on the part of the developer which is beyond the control of the assesse. Exemption is allowed to the assessee. (AY. 2013-14)
Abodh Borar v. ITO (2019) 76 ITR 30 (SN) (Delhi)(Trib.)
S. 54F : Capital gains-Investment in a residential house-Developer failed to delivered possession-Delay in construction is not attributable to the assessee-Entitled to exemption. [S. 45]