https://www.taxtmi.com/caselaws?id=326753 Section 54F exemption applies where capital gains are substantively invested in constructing a residential house within the statutory period, even if the occupancy certificate has not yet been issued, provided the completion and occupancy-application requirements have been pursued. Investment in the new house, rather than the amount deposited in the capital gains account, determines the available exemption; restricting relief to the deposited sum is unsustainable where total investment exceeds the sale consideration. Capital gains must also be recomputed after allowing the admissible indexed cost of acquisition where purchase deeds support the claim. en-us Mon, 29 Feb 2016 00:00:00 +0530 Wed, 20 Apr 2016 11:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326753 Section 54F exemption applies where capital gains are substantively invested in constructing a residential house within the statutory period, even if the occupancy certificate has not yet been issued, provided the completion and occupancy-application requirements have been pursued. Investment in the new house, rather than the amount deposited in the capital gains account, determines the available exemption; restricting relief to the deposited sum is unsustainable where total investment exceeds the sale consideration. Capital gains must also be recomputed after allowing the admissible indexed cost of acquisition where purchase deeds support the claim. Case-Laws Income Tax Mon, 29 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326753