S. 54F exemption can be claimed if amount invested although construction not completed

IN THE ITAT AMRITSAR BENCH

Smt. Usha Vaid

v.

Income-tax Officer, Dasuaya

IT Appeal No. 98 (Asr.) of 2011

[Assessment year 2006-07]

July 27, 2012

This view is supported by the decision of the Hon’ble Madras High Court in the case of  CIT vs. Sardar Mal Kuthari 302 ITR 286. The Ld. counsel for the assessee has also placed reliance on the following decisions : 

i)  Mrs. Seetha Subramanian vs. ACIT 56 TTJ 417 (Mad)  

ii)  Smt. Ranjit Sandhu vs. DCIT 133 TTJ (Chd)(UO) 46 (2010).