Hyper-technical view cannot be the basis to assume revisionary jurisdiction

Sarita Gupta Vs PCIT (ITAT Delhi)

Introduction: The Income Tax Appellate Tribunal (ITAT) Delhi recently addressed a crucial case, Sarita Gupta Vs PCIT, where the revisionary order by the Principal Commissioner of Income Tax (PCIT) was contested. The central issue revolved around the denial of deduction u/s 54/54F based on non-deposit in the capital gains scheme account.

Detailed Analysis: The appellant, a resident individual, had sold an immovable property, prompting

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