Section 54 deduction eligible on investment in house purchased abroad within stipulated time u/s 139(4)

Joseph K. Zachariah Vs ACIT (ITAT Bangalore)

Section 54(2) of the Act has two conditions for availing deduction u/s 54(1) of the Act. Firstly, the assessee has to utilize the capital gain in purchase of new property before the due date of furnishing the return of income u/s 139 o

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