https://www.taxtmi.com/caselaws?id=794240 Section 54F exemption cannot be denied solely because unutilised sale proceeds were not deposited in the Capital Gains Account Scheme by the section 139(1) due date, where the assessee actually invested the amount in construction of a residential house within the prescribed period. The deposit requirement in section 54F(4) applies only when the assessee seeks to retain unutilised capital gains while still claiming exemption, and it is not attracted when the substantive investment condition under section 54F(1) is satisfied. The deduction was therefore allowable as claimed, following binding High Court decisions on the same issue. en-us Mon, 29 Jun 2026 00:00:00 +0530 Thu, 02 Jul 2026 08:07:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794240 Section 54F exemption cannot be denied solely because unutilised sale proceeds were not deposited in the Capital Gains Account Scheme by the section 139(1) due date, where the assessee actually invested the amount in construction of a residential house within the prescribed period. The deposit requirement in section 54F(4) applies only when the assessee seeks to retain unutilised capital gains while still claiming exemption, and it is not attracted when the substantive investment condition under section 54F(1) is satisfied. The deduction was therefore allowable as claimed, following binding High Court decisions on the same issue. Case-Laws Income Tax Mon, 29 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794240