https://www.taxtmi.com/caselaws?id=778524 ITAT allowed the appeal, directing the AO to adopt FMV of Rs.5,00,000 per acre (instead of Rs.3,50,000) for computing block capital gains and granted deduction under s.54F. The Tribunal held that funds withdrawn from a nationalized bank and expended on house construction qualify as investment for s.54F even though not deposited in CGAS or within s.139 timelines, relying on precedent that bona fide investment in construction within the stipulated period meets statutory requirements. en-us Thu, 28 Aug 2025 00:00:00 +0530 Thu, 18 Sep 2025 08:30:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778524 ITAT allowed the appeal, directing the AO to adopt FMV of Rs.5,00,000 per acre (instead of Rs.3,50,000) for computing block capital gains and granted deduction under s.54F. The Tribunal held that funds withdrawn from a nationalized bank and expended on house construction qualify as investment for s.54F even though not deposited in CGAS or within s.139 timelines, relying on precedent that bona fide investment in construction within the stipulated period meets statutory requirements. Case-Laws Income Tax Thu, 28 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778524