| Question And Answer | |
|---|---|
| Subject: | allotment letter vs possession section 54/54F |
| Category: | Income-Tax |
| Querist: | bks |
| Answered by: | Law Intern |
| Tags: | allotment letter is date of purchase, Section 54F deduction |
| Date: | September 14, 2025 |
Case law of Bina Jain says possession is imp
Case law of Vembu Vaidynathan says letter of allotment is enough
how to reconcile both ?
One way to reconcile may be that Vembu Vaidyanathan was a case of construction where substantial payments had been made. CBDT Circular No. 471 dated 15.10.1986 and Circular No. 672 dated 16.12.1993 help this interpretation.
Otherwise, if it is a ready-made flat fit for occupation, possession may be insisted upon.
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