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2015 (12) TMI 499 - AT - Income TaxEntitlement for deduction u/s 54 - Held that:- We have already noticed that the deduction u/s 54 is available only if the assessee constructs a new house within three years after the date of transfer. In the instant case, the assessee has constructed a house prior to the date of transfer of original house, in which case, the assessee is not entitled to claim deduction u/s 54 of the Act in respect of the cost of new flat. - Decided against assessee.
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