https://www.taxtmi.com/caselaws?id=799842 Section 54 permits deduction for investment in a new residential house where construction is completed within the prescribed period after transfer of the original house; construction need not commence only after that transfer. Where the plot was acquired before transfer and registered in the spouse's name, its cost was not eligible on the stated facts. Separately ascertainable construction expenditure remained eligible despite exclusion of the land component. Deduction was therefore confined to the eligible construction cost, while the land cost was excluded and the remaining capital gain was taxable. en-us Thu, 17 Sep 2026 00:00:00 +0530 Mon, 28 Sep 2026 08:12:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799842 Section 54 permits deduction for investment in a new residential house where construction is completed within the prescribed period after transfer of the original house; construction need not commence only after that transfer. Where the plot was acquired before transfer and registered in the spouse's name, its cost was not eligible on the stated facts. Separately ascertainable construction expenditure remained eligible despite exclusion of the land component. Deduction was therefore confined to the eligible construction cost, while the land cost was excluded and the remaining capital gain was taxable. Case-Laws Income Tax Thu, 17 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799842