Benefit u/s 54 available as total capital gain utilized for acquisition of new house

Anik Chatterjee Vs ITO (ITAT Delhi)

ITAT Delhi held that benefit u/s 54 of the Income Tax Act duly available the amount equivalent to the capital gains has been utilized for acquisition of new house

Facts- During the course of assessment proceedings, AO noted that the assessee had claimed deduction of Rs.1,13,88,413 u/s 54 of the Income Tax Act. The assessee has made payments for booking on 10.06.2014 of Rs.10 lacs and 19.06.2014 of Rs.15 lacs. The remaining payments made

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