https://www.taxtmi.com/caselaws?id=792915 Actual utilisation of capital gains for construction of a new residential house before filing a valid return under section 139(4) satisfies section 54, and the exemption cannot be denied merely because the amount was not deposited in the capital gains account by the due date under section 139(1). The disallowance was therefore unsustainable, and the assessee was entitled to the benefit of section 54. en-us Wed, 03 Jun 2026 00:00:00 +0530 Fri, 05 Jun 2026 08:07:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792915 Actual utilisation of capital gains for construction of a new residential house before filing a valid return under section 139(4) satisfies section 54, and the exemption cannot be denied merely because the amount was not deposited in the capital gains account by the due date under section 139(1). The disallowance was therefore unsustainable, and the assessee was entitled to the benefit of section 54. Case-Laws Income Tax Wed, 03 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792915