https://www.taxtmi.com/caselaws?id=276430 The ITAT allowed the appellant's appeal, ruling in favor of the appellant's claim for deduction under section 54F for long-term capital gains. Despite not depositing the amount in the Capital Gain Account Scheme, the appellant utilized the funds for constructing a new house within the stipulated three-year period. The ITAT emphasized the importance of meeting the construction timeline and utilizing capital gains for construction within the specified timeframe, ultimately granting the appellant the exemption based on compliance with the statutory requirements. en-us Mon, 08 Feb 2016 00:00:00 +0530 Sun, 11 Nov 2018 08:42:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276430 The ITAT allowed the appellant's appeal, ruling in favor of the appellant's claim for deduction under section 54F for long-term capital gains. Despite not depositing the amount in the Capital Gain Account Scheme, the appellant utilized the funds for constructing a new house within the stipulated three-year period. The ITAT emphasized the importance of meeting the construction timeline and utilizing capital gains for construction within the specified timeframe, ultimately granting the appellant the exemption based on compliance with the statutory requirements. Case-Laws Income Tax Mon, 08 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276430