https://www.taxtmi.com/caselaws?id=795427 Unsupported estimation of acquisition and improvement costs cannot determine long-term capital gains where the Assessing Officer discloses no rational or evidentiary basis; the resulting disallowance was deleted. For section 54F, acquisition of a new residential property within the prescribed period satisfies the substantive investment condition, while failure to deposit unutilised gains in the Capital Gains Account Scheme before the return-filing due date is procedural if timely investment is ultimately made. Exemption was available to assessees who invested within the statutory period, but unavailable where the investment itself was made after that period. en-us Tue, 30 Jun 2026 00:00:00 +0530 Wed, 22 Jul 2026 08:48:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795427 Unsupported estimation of acquisition and improvement costs cannot determine long-term capital gains where the Assessing Officer discloses no rational or evidentiary basis; the resulting disallowance was deleted. For section 54F, acquisition of a new residential property within the prescribed period satisfies the substantive investment condition, while failure to deposit unutilised gains in the Capital Gains Account Scheme before the return-filing due date is procedural if timely investment is ultimately made. Exemption was available to assessees who invested within the statutory period, but unavailable where the investment itself was made after that period. Case-Laws Income Tax Tue, 30 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795427