https://www.taxtmi.com/caselaws?id=787880 Examines eligibility for deduction under the capital gains exemption for investment in an under construction residential property where substantial payments were made before sale of the old asset. Applies the legal principle that the exemption does not insist on physical application of the exact sale proceeds only after transfer; payments made prior to sale toward acquisition or construction may qualify if the new property is completed within the statutory period. On the facts and documentary evidence considered, the analysis concludes the deduction is allowable and that reassessment disallowing the deduction is liable to be quashed. en-us Tue, 10 Mar 2026 00:00:00 +0530 Fri, 13 Mar 2026 08:36:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787880 Examines eligibility for deduction under the capital gains exemption for investment in an under construction residential property where substantial payments were made before sale of the old asset. Applies the legal principle that the exemption does not insist on physical application of the exact sale proceeds only after transfer; payments made prior to sale toward acquisition or construction may qualify if the new property is completed within the statutory period. On the facts and documentary evidence considered, the analysis concludes the deduction is allowable and that reassessment disallowing the deduction is liable to be quashed. Case-Laws Income Tax Tue, 10 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787880