Can i take benefit of 54f on LTGC

This discussion explores the eligibility for Section 54F exemption on Long Term Capital Gains (LTCG) when a residential property was booked and partially paid for before the sale of the original asset. The key question is whether the booking date or the possession/registry date determines eligibility for the deduction against the LTCG. While some initial opinions suggest it might not be allowed, a relevant ITAT ruling indicates that if the new house construction is completed within three years of the asset transfer, the deduction could still be admissible, even if construction began earlier.