https://www.taxtmi.com/caselaws?id=466800 Application of the capital gain exemption for purchase of residential property required treating payments for purchase and integral renovations as qualifying expenditure; the appellate authority admitted additional documentary evidence, applied the CBDT circulars extending the compliance period, computed the deduction by the statutory formula (capital gain x cost of new property / net sale consideration) and allowed the deduction to the extent of Rs. 36,07,51,900. The revenue challenge to admission of evidence and to applying the extended period was dismissed. en-us Tue, 25 Feb 2025 00:00:00 +0530 Fri, 20 Feb 2026 08:22:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466800 Application of the capital gain exemption for purchase of residential property required treating payments for purchase and integral renovations as qualifying expenditure; the appellate authority admitted additional documentary evidence, applied the CBDT circulars extending the compliance period, computed the deduction by the statutory formula (capital gain x cost of new property / net sale consideration) and allowed the deduction to the extent of Rs. 36,07,51,900. The revenue challenge to admission of evidence and to applying the extended period was dismissed. Case-Laws Income Tax Tue, 25 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466800