https://www.taxtmi.com/caselaws?id=794976 Pre-amendment section 54F applicable to Assessment Year 2009-10 did not restrict capital-gains deduction to construction of a single residential unit; replacement of "a residential house" with "one residential house" operated prospectively. Construction need not conform to an approved building plan, nor is production of statutory approval a condition for relief, provided a residential house is constructed within the prescribed period. Where an undisputed valuation report establishes timely construction and investment, incomplete bank statements alone do not defeat the claim; concerns regarding the source of investment may be examined separately. The stated conditions for section 54F deduction were therefore satisfied and the related addition was deleted. en-us Wed, 25 Mar 2026 00:00:00 +0530 Wed, 15 Jul 2026 08:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794976 Pre-amendment section 54F applicable to Assessment Year 2009-10 did not restrict capital-gains deduction to construction of a single residential unit; replacement of "a residential house" with "one residential house" operated prospectively. Construction need not conform to an approved building plan, nor is production of statutory approval a condition for relief, provided a residential house is constructed within the prescribed period. Where an undisputed valuation report establishes timely construction and investment, incomplete bank statements alone do not defeat the claim; concerns regarding the source of investment may be examined separately. The stated conditions for section 54F deduction were therefore satisfied and the related addition was deleted. Case-Laws Income Tax Wed, 25 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794976