https://www.taxtmi.com/caselaws?id=794726 The Tribunal reiterated that the deeming fiction in section 50C applies only to computation of capital gains under section 48 and cannot be extended to section 54F exemption. For section 54F, the relevant test is whether the assessee invested the net consideration, meaning the actual sale consideration received, in a new residential house. As the assessee had invested the entire actual sale proceeds in purchase and construction of the new house, the conditions for exemption were satisfied. The exemption was therefore to be allowed on the basis of actual consideration, not the deemed stamp duty value. en-us Tue, 07 Jul 2026 00:00:00 +0530 Fri, 10 Jul 2026 07:39:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794726 The Tribunal reiterated that the deeming fiction in section 50C applies only to computation of capital gains under section 48 and cannot be extended to section 54F exemption. For section 54F, the relevant test is whether the assessee invested the net consideration, meaning the actual sale consideration received, in a new residential house. As the assessee had invested the entire actual sale proceeds in purchase and construction of the new house, the conditions for exemption were satisfied. The exemption was therefore to be allowed on the basis of actual consideration, not the deemed stamp duty value. Case-Laws Income Tax Tue, 07 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794726