https://www.taxtmi.com/caselaws?id=471207 Section 54 capital-gains exemption depends on purchasing or constructing a new residential property within the prescribed period. It does not require the taxpayer to use the identical sale proceeds from the transferred property for that investment. Accordingly, acquisition of the new residential property within the statutory period using bank-loan funds does not prevent the taxpayer from claiming the exemption, even where the sale consideration from the old property was not directly deployed. en-us Fri, 02 Aug 2019 00:00:00 +0530 Tue, 25 Aug 2026 16:52:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471207 Section 54 capital-gains exemption depends on purchasing or constructing a new residential property within the prescribed period. It does not require the taxpayer to use the identical sale proceeds from the transferred property for that investment. Accordingly, acquisition of the new residential property within the statutory period using bank-loan funds does not prevent the taxpayer from claiming the exemption, even where the sale consideration from the old property was not directly deployed. Case-Laws Income Tax Fri, 02 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471207