https://www.taxtmi.com/highlights?id=98299 A reassessment opened to tax long-term capital gains from a joint development agreement could also entertain a section 54F claim directly linked to that escaped income, because reassessment is not a review of concluded matters but relief bearing on the very income under examination. The Tribunal further held that a landowner's agreed share of residential units to be constructed and allotted by the developer can qualify as investment in construction of a residential house for section 54F purposes, following Karnataka High Court authorities. The exemption claim was therefore restored for fresh adjudication on the remaining statutory conditions. en-us Wed, 01 Apr 2026 07:51:09 +0530 Wed, 01 Apr 2026 07:51:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=98299 A reassessment opened to tax long-term capital gains from a joint development agreement could also entertain a section 54F claim directly linked to that escaped income, because reassessment is not a review of concluded matters but relief bearing on the very income under examination. The Tribunal further held that a landowner's agreed share of residential units to be constructed and allotted by the developer can qualify as investment in construction of a residential house for section 54F purposes, following Karnataka High Court authorities. The exemption claim was therefore restored for fresh adjudication on the remaining statutory conditions. Highlights Income Tax Wed, 01 Apr 2026 07:51:09 +0530 https://www.taxtmi.com/highlights?id=98299