https://www.taxtmi.com/caselaws?id=467928 Section 54 exemption may cover investment in constructing a new residential house even where construction commenced before sale of the original asset, because the provision requires construction within the prescribed period but does not prohibit earlier commencement. Its beneficial character supports a liberal interpretation focused on the construction timeline. Deposits in the capital gains account scheme made after the section 139(1) due date may also preserve the exemption if made within the extended return-filing period under section 139(4). These principles support full exemption where both conditions are satisfied. en-us Thu, 28 Sep 2017 00:00:00 +0530 Thu, 09 Apr 2026 13:02:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467928 Section 54 exemption may cover investment in constructing a new residential house even where construction commenced before sale of the original asset, because the provision requires construction within the prescribed period but does not prohibit earlier commencement. Its beneficial character supports a liberal interpretation focused on the construction timeline. Deposits in the capital gains account scheme made after the section 139(1) due date may also preserve the exemption if made within the extended return-filing period under section 139(4). These principles support full exemption where both conditions are satisfied. Case-Laws Income Tax Thu, 28 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467928