Dismissing the appeal of the revenue the Tribunal held that the date of agreement for purchase of the new residential house was 22-7-2015 and possession was also taken on said date, both dates were within two years from the date of transfer. Eligible for exemption. Relied on CIT v. Beena K. Jain (1996) 217 ITR 363 (Bom.)(HC). (ITA No. 1043/Mum/2019 dt. 3-3-2021) (AY. 2015-16).
ACIT v. Mohan Prabbhakar Bhide (2021) BCAJ-June-P. 20 (Mum.)(Trib.)
S. 54F : Capital gains-Investment in a residential house-Date on which full consideration was paid and possession was taken is the relevant date to be considered. [S. 45]