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Due date for investment in property for S.54 exemption in case of revised return
Case Law Details
- Case Name
- ACIT Vs Smt. Sapna Dimri (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2008-09
- Courts
- ITAT Delhi
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Assessee can claim exemption u/s. 54 in revised return for amount invested in property after due date U/s. 139(1)
Hon’ble Punjab & Haryana High Court in the case of CIT Vs. Miss Jagriti (supra) has held that sub-section (4) of section 139 provides the extension period of limitation as an exception to sub-sec. (1) of sec. 139 of the Act. Sub-sec. (4) was in relation to the time allowed to an assessee under sub-sec. (1) to file the return. Therefore, such provision was not an independent provision, but relates to the time contemplated under sub-sec.(1) of sec. 139. Therefo...
