ACIT v. Akshay Sobti (2019) 177 ITD 92 (Delhi)(Trib.)

S. 54 : Capital gains-Profit on sale of property used for residence-Investment of consideration for booking a semi-finished flat with a builder-Treated as construction of property and not purchase of property-Entitle to exemption. [S. 45]

Assessee sold residential property and utilised sale consideration for booking a semi-finished flat with a builder by periodic payment of instalments and assessee had to carry out internal fit-outs to make said flat liveable on its own, same was to be treated as case of construction of property and not purchase of property .Entitle to exemption. (AY. 2012-13)