<s>[INST] What happens to the unutilised amount if the assessee (individual) dies before utilising the deposit under Capital Gains Scheme Account? [/INST] ​The CBDT vide Circular No. 743, Dated May 6, 1996, has clarified that if assessee (individual) dies without utilising the deposit within the prescribed period, the unutilised amount cannot be treated as income of the deceased person. This amount is not taxable in the hands of legal heirs also as the unutilised deposit does not partake the character of income in their hands. ​ </s>