{"id":50106,"date":"2025-01-16T20:57:07","date_gmt":"2025-01-16T15:27:07","guid":{"rendered":"https:\/\/itatonline.org\/digest\/viral-rajendra-patel-v-pcit-2024110-itr-79-snahdtrib\/"},"modified":"2025-01-16T20:57:07","modified_gmt":"2025-01-16T15:27:07","slug":"viral-rajendra-patel-v-pcit-2024110-itr-79-snahdtrib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/viral-rajendra-patel-v-pcit-2024110-itr-79-snahdtrib\/","title":{"rendered":"Viral Rajendra Patel v. PCIT (2024)110 ITR 79 (SN)(Ahd)(Trib)"},"content":{"rendered":"<p>Held\u00a0 that according to section\u00a054F\u00a0of the Act, time of three years is provided to the assessee for construction of a house property for claiming exemption of capital gains under section. The exercise of revisionary power by the Principal Commissioner was based on an incorrect interpretation of the provisions of law on the issue. Accordingly the revision order is quashed (AY.2018-19)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 263 : Commissioner-Revision of orders prejudicial to revenue-Capital gains-Investment of gains in residential house within time specified-Purchase of land with intention of constructing house-Time of  three years from date of transfer of  original asset allowed-Revision on ground that purchase was beyond two years allowed for purchase of house  is  not proper.[S. 45, 54F, 143(3)]  <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-50106","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-d2a","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50106","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=50106"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50106\/revisions"}],"predecessor-version":[{"id":50107,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50106\/revisions\/50107"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=50106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=50106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=50106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}