https://www.taxtmi.com/caselaws?id=787094 For computing deduction under the statutory capital-gains exemption, the deduction is calculated by applying the statutory formula equating deduction to capital gain multiplied by the ratio of cost of the new asset to net consideration; deposits into the Capital Gains Account Scheme preserve entitlement to exemption but do not change the computation method. Where the assessee neither showed actual utilization nor an irrevocable commitment of the deposited amount towards construction, the excess claimed cannot be treated as cost of the new asset and a proportionate disallowance is warranted; the appeal is dismissed. en-us Mon, 23 Feb 2026 00:00:00 +0530 Thu, 26 Feb 2026 07:35:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787094 For computing deduction under the statutory capital-gains exemption, the deduction is calculated by applying the statutory formula equating deduction to capital gain multiplied by the ratio of cost of the new asset to net consideration; deposits into the Capital Gains Account Scheme preserve entitlement to exemption but do not change the computation method. Where the assessee neither showed actual utilization nor an irrevocable commitment of the deposited amount towards construction, the excess claimed cannot be treated as cost of the new asset and a proportionate disallowance is warranted; the appeal is dismissed. Case-Laws Income Tax Mon, 23 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787094