https://www.taxtmi.com/caselaws?id=792661 Expenditure incurred to make a newly acquired flat habitable, supported by invoices and evidence of civil and electrical work, was treated as cost of improvement and the disallowance was deleted. On Section 54, the unamended provision was applied as beneficial legislation: exemption was not confined to one residential house, so investment in multiple residential properties could still qualify where statutory conditions were met. Amounts deposited in the capital gains account scheme remained protected under Section 54(2) and could not be taxed merely because further investments were also made. The assessee was therefore granted relief on both issues. en-us Fri, 29 May 2026 00:00:00 +0530 Mon, 01 Jun 2026 08:25:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792661 Expenditure incurred to make a newly acquired flat habitable, supported by invoices and evidence of civil and electrical work, was treated as cost of improvement and the disallowance was deleted. On Section 54, the unamended provision was applied as beneficial legislation: exemption was not confined to one residential house, so investment in multiple residential properties could still qualify where statutory conditions were met. Amounts deposited in the capital gains account scheme remained protected under Section 54(2) and could not be taxed merely because further investments were also made. The assessee was therefore granted relief on both issues. Case-Laws Income Tax Fri, 29 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792661