This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Section 54 Exemption Allowed as Investment Was Made Within 2 Years Despite No CGDS Deposit
Case Law Details
- Case Name
- Usha Rani Laxmeshwar Vs National Faceless Appeal Centre (ITAT Indore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Indore
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Usha Rani Laxmeshwar Vs National Faceless Appeal Centre (ITAT Indore)
ITAT Allows Section 54 Relief Because Procedural Lapse Cannot Override Genuine Reinvestment; Reassessment Fails Because Section 54 Benefit Cannot Be Denied for Technical Non-Compliance; Section 54 Deduction Upheld Because New House Was Purchased Within Statutory Time Limit; Capital Gain Exemption Restored Because Actual Investment Took Precedence Over Deposit Procedure.
Summary : The Indore Bench of the Income Tax Appellate Tribunal in held that exemption under Section 54 of the Income Tax Act cannot be deni...
Author Info
