Section 54F- Source of funds is irrelevant & Possession date is Purchase date By Anand Gupta TaxGuru

Section 54F- Source of funds is irrelevant & Possession date is Purchase date  ITAT Mumbai held that for claiming exemption under section 54 Date on which possession is by the Assessee  should be taken as the date of purchase and further section only require Assessee to purchase/Construct a residential house within the specified period and source of funds is quite irrelevant.

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