Allowing the appeal of the assessee the Tribunal held that Deduction is available when the construction of flat is completed within three years from the date of sale of property and not from the date of commencement of construction. (ITA NO. 265/Mum/ 2015 dt.31-8-2018 ) ( AY. 2009-10)
Amritlal B. Sahu v. ITO (Mum.)(Trib.)(UR)
S. 54 : Capital gains-Profit on sale of property used for residence-Deduction is available when the construction of flat is completed with in three years from the date of sale of property and not from the date of commencement of construction. [S. 45]