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2017 (10) TMI 819 - AT - Income TaxDeduction u/s 54F - investment in house property - The AO disallowed the claim made by the assessee since the assessee has entered into contract for construction agreement prior to one year before the sale of the long term capital asset - Held that: - the assessee has completed the construction of the house within three years from the date of capital gains and the assessee has satisfied the condition for allowing deduction u/s 54F - the case is squarely covered by the decision in the case of Commissioner of Income-tax Versus Bharti Mishra [2014 (1) TMI 446 - DELHI HIGH COURT], where it was held that It is now a well-established principle of law that whereas eligibility criteria laid down in an exemption notification are required to be construed strictly, once it is found that the applicant satisfies the same, the exemption notification should be construed liberally - appeal dismissed - decided against Revenue.
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