https://www.taxtmi.com/caselaws?id=787300 Capital gains exemption was held available where the taxpayer invested sale proceeds by paying for a plot, architect fees and advances and commenced construction within the statutory window; the Tribunal applied the statutory scheme treating amounts utilised or deposited as cost of the new asset and relied on precedents holding that payment of advances and commencement of construction constitute utilisation. The Tribunal found factual proof of provisional allotment, payments and commencement of works and distinguished completion within three years from the requirement that capital gains be utilised or deposited within the period; accordingly the assessing officer's addition was deleted and the appeal allowed. en-us Tue, 20 Jan 2026 00:00:00 +0530 Mon, 02 Mar 2026 11:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787300 Capital gains exemption was held available where the taxpayer invested sale proceeds by paying for a plot, architect fees and advances and commenced construction within the statutory window; the Tribunal applied the statutory scheme treating amounts utilised or deposited as cost of the new asset and relied on precedents holding that payment of advances and commencement of construction constitute utilisation. The Tribunal found factual proof of provisional allotment, payments and commencement of works and distinguished completion within three years from the requirement that capital gains be utilised or deposited within the period; accordingly the assessing officer's addition was deleted and the appeal allowed. Case-Laws Income Tax Tue, 20 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787300