https://www.taxtmi.com/caselaws?id=795750 Section 54 relief is available where documentary evidence, including bank records and a certificate, establishes a qualifying deposit under the Capital Gains Accounts Scheme. Agricultural land qualifies as a capital asset only if verified facts establish that it falls within the prescribed municipal-distance limit; conflicting distance material requires fresh factual verification. Capital gains from the residential flat must be recomputed after allowing applicable indexation where the original computation omitted that benefit. The section 54 disallowance is deleted, while the agricultural-land taxability and consequential capital-gains computation require fresh assessment. en-us Mon, 29 Jun 2026 00:00:00 +0530 Mon, 27 Jul 2026 08:27:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795750 Section 54 relief is available where documentary evidence, including bank records and a certificate, establishes a qualifying deposit under the Capital Gains Accounts Scheme. Agricultural land qualifies as a capital asset only if verified facts establish that it falls within the prescribed municipal-distance limit; conflicting distance material requires fresh factual verification. Capital gains from the residential flat must be recomputed after allowing applicable indexation where the original computation omitted that benefit. The section 54 disallowance is deleted, while the agricultural-land taxability and consequential capital-gains computation require fresh assessment. Case-Laws Income Tax Mon, 29 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795750