Tag: Benefit of Section 54F Is Not Available If Assessee Has Not Started

Benefit of Section 54F Is Not Available If Assessee Has Not Started

In Ajay Kumar v. ITO, the division bench of the Allahabad High Court held that exemption under section 54F of the Income Tax Act will not be available when the assessee has not started construction in the purchased plot within the stipulated time. Assessee sold his ancestral property and purchased a new plot. However, the assessee […]