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2016 (1) TMI 795 - AT - Income TaxEligibility of deduction u/s 54 - Exemption from long term capital gains - Held that:- We find that assessee had entered into an agreement for purchase of a flat no. 1402 on 31.01.2007. However, the said agreement was completely rectified and replace with a new agreement which was entered for purchase of a different flat No. 1302 on 19.04.2008. The possession of the said flat was given on 21.02.2009 and agreement for sale was made on 30.03.2009. Old flat was sold on 6th April, 2009. Thus, the claim of exemption u/s 54 made by the assessee was very much well within the ‘window period’ as defined in section 54. Therefore the finding of fact as recorded by the CIT(A) (incorporated above) is affirmed - Decided in favour of assessee
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