#under-construction property

ITAT Delhi rules that for capital gains tax on under-construction properties, indexation of the cost of acquisition must commence from the financial year of allotment and payment, not the registration date. The tribunal also permitted brokerage deduction upon submission of bank transaction evidence, clarifying tax computation for real estate investments.

ITAT Ahmedabad rules that investment in an under-construction residential property within the prescribed time limits under Section 54F qualifies for capital gains exemption, even if the payment was made prior to the sale of the original asset. This holding clarifies that the timing of possession or execution of the sale deed is not the sole determinant, provided the investment meets the statutory timeline.