https://www.taxtmi.com/caselaws?id=467928 Section 54 exemption may be claimed where construction of the new residential house begins before sale of the original asset, because the provision requires completion or investment within the prescribed period and does not bar prior commencement. The article also states that a deposit in the capital gains account scheme made after the due date under section 139(1) but before the extended filing period under section 139(4) satisfies the statutory condition for exemption. On this reasoning, both the pre-sale construction cost and the timely deposit within the extended period were treated as eligible for deduction under section 54. 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 be claimed where construction of the new residential house begins before sale of the original asset, because the provision requires completion or investment within the prescribed period and does not bar prior commencement. The article also states that a deposit in the capital gains account scheme made after the due date under section 139(1) but before the extended filing period under section 139(4) satisfies the statutory condition for exemption. On this reasoning, both the pre-sale construction cost and the timely deposit within the extended period were treated as eligible for deduction under section 54. Case-Laws Income Tax Thu, 28 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467928