https://www.taxtmi.com/caselaws?id=793889 In reassessment, the first appellate authority cannot enhance the assessment by taxing long-term capital gain from a source never examined by the Assessing Officer; enhancement on that basis was beyond jurisdiction. The property sold was treated as a residential house property on the strength of the sale deed, occupation certificate and supporting records, so indexed cost of construction and improvement was allowable in computing capital gains. Deduction under sections 54/54F could not be refused merely because the unutilised amount was not deposited in the Capital Gain Account Scheme, as the substantive investment conditions were satisfied within time. en-us Mon, 22 Jun 2026 00:00:00 +0530 Thu, 25 Jun 2026 08:27:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793889 In reassessment, the first appellate authority cannot enhance the assessment by taxing long-term capital gain from a source never examined by the Assessing Officer; enhancement on that basis was beyond jurisdiction. The property sold was treated as a residential house property on the strength of the sale deed, occupation certificate and supporting records, so indexed cost of construction and improvement was allowable in computing capital gains. Deduction under sections 54/54F could not be refused merely because the unutilised amount was not deposited in the Capital Gain Account Scheme, as the substantive investment conditions were satisfied within time. Case-Laws Income Tax Mon, 22 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793889