Advances paid for purchase of assets would amount to utilization of capital gains u/s 54G- SC

Brief of the case:

In this case assessee with an intention to shift its industrial undertaking from urban to non-urban area sold its land, plant & machinery, building etc. and out of capital gain earned he made advance payments to various persons to purchase land, plant & machinery, building etc. Assessee claimed exemption on the entire capital gain earned from the sale proceed in view of the advances so made being more than the capital gain made by it. On appeal to supreme court by assessee Hon’ble

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