https://www.taxtmi.com/caselaws?id=791540 Deduction under section 54F cannot be denied merely because the unutilised capital gain was not deposited in the Capital Gain Account Scheme by the due date under section 139(1), where the assessee invested the full capital gain in a residential house within the statutory period. The provision is a beneficial exemption intended to promote residential investment, so substantive compliance with the investment requirement prevails over the procedural deposit requirement. As the genuineness of the investment was not disputed and the flat-description objection was explained by authenticated documents, the disallowance was unsustainable. en-us Mon, 11 May 2026 00:00:00 +0530 Wed, 13 May 2026 08:36:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791540 Deduction under section 54F cannot be denied merely because the unutilised capital gain was not deposited in the Capital Gain Account Scheme by the due date under section 139(1), where the assessee invested the full capital gain in a residential house within the statutory period. The provision is a beneficial exemption intended to promote residential investment, so substantive compliance with the investment requirement prevails over the procedural deposit requirement. As the genuineness of the investment was not disputed and the flat-description objection was explained by authenticated documents, the disallowance was unsustainable. Case-Laws Income Tax Mon, 11 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791540