For claiming deduction u/s 54F mere bank statement showing withdrawal of amount is not sufficient

Brief of the case:

ITAT Hyderabad held in Shri M.S Lakshmana Rao Vs DCIT that if the assesse had not deposited the capital gain amount under the capital gain account scheme in bank then the assesse should not be barred of the exemption of sec 54 provided the assesse proved that the capital gain amount had actually been utilize

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