https://www.taxtmi.com/caselaws?id=795511 Investment of capital gains in an under-construction flat through timely allotment and staged payments constitutes construction of a residential house for Section 54 exemption. Developer-caused delay in completion, registration or conveyance does not defeat the exemption where the taxpayer has completed obligations within their control and committed the gains within the prescribed period. Omission to claim the exemption in the return does not preclude relief where complete supporting material is furnished during assessment. The restriction on claims not made through a revised return applies to the Assessing Officer and does not curtail appellate powers to admit and grant a legally admissible substantive claim. en-us Mon, 29 Jun 2026 00:00:00 +0530 Thu, 23 Jul 2026 08:42:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795511 Investment of capital gains in an under-construction flat through timely allotment and staged payments constitutes construction of a residential house for Section 54 exemption. Developer-caused delay in completion, registration or conveyance does not defeat the exemption where the taxpayer has completed obligations within their control and committed the gains within the prescribed period. Omission to claim the exemption in the return does not preclude relief where complete supporting material is furnished during assessment. The restriction on claims not made through a revised return applies to the Assessing Officer and does not curtail appellate powers to admit and grant a legally admissible substantive claim. Case-Laws Income Tax Mon, 29 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795511