https://www.taxtmi.com/caselaws?id=795754 For section 54F exemption, the cost of land acquired before transfer of the original capital asset may be included in the cost of a new residential house if construction is completed within the prescribed three-year period. Land is an integral component of the residential unit, and a purposive interpretation does not require its acquisition after the original transfer. Further, failure to deposit unutilised consideration in the Capital Gains Account Scheme by the due date does not defeat exemption where the consideration is actually invested in construction within three years. The article states that both the land cost and subsequent construction expenditure qualify for the capital-gains exemption. en-us Fri, 10 Jul 2026 00:00:00 +0530 Mon, 27 Jul 2026 08:27:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795754 For section 54F exemption, the cost of land acquired before transfer of the original capital asset may be included in the cost of a new residential house if construction is completed within the prescribed three-year period. Land is an integral component of the residential unit, and a purposive interpretation does not require its acquisition after the original transfer. Further, failure to deposit unutilised consideration in the Capital Gains Account Scheme by the due date does not defeat exemption where the consideration is actually invested in construction within three years. The article states that both the land cost and subsequent construction expenditure qualify for the capital-gains exemption. Case-Laws Income Tax Fri, 10 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795754