https://www.taxtmi.com/caselaws?id=770551 Section 54F exemption was available on long-term capital gains from sale of unquoted shares because the disqualifying residential-house conditions were not cumulatively met on the facts found. One property had already been gifted to the assessee's daughter before the transfer of the original asset, and the later formalisation did not alter that prior transfer. The other property was under construction on the transfer date and was not treated as a completed house property for the proviso. The investment in land and deposit in the Capital Gains Account Scheme were made within the applicable due date under section 139(1), and purchase of land for a new residential house with construction completed in time satisfied the exemption requirements. en-us Fri, 09 May 2025 00:00:00 +0530 Sat, 10 May 2025 10:49:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770551 Section 54F exemption was available on long-term capital gains from sale of unquoted shares because the disqualifying residential-house conditions were not cumulatively met on the facts found. One property had already been gifted to the assessee's daughter before the transfer of the original asset, and the later formalisation did not alter that prior transfer. The other property was under construction on the transfer date and was not treated as a completed house property for the proviso. The investment in land and deposit in the Capital Gains Account Scheme were made within the applicable due date under section 139(1), and purchase of land for a new residential house with construction completed in time satisfied the exemption requirements. Case-Laws Income Tax Fri, 09 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770551