Dismissing the appeal of the revenue the Court held that; exemption is available though the construction of new property was not completed with in period of three years as the delay was beyond control of assessee because construction was put up by builder. ( AY.2012 -13)
PCIT v. Dilip Ranjrekar (2019) 260 Taxman 317 / 177 DTR 158/ 308 CTR 662(Karn.)(HC)
S. 54 : Capital gains – Profit on sale of property used for residence – Exemption is available though the construction of new property was not completed with in period of three years [ S.45 ]