Section 54F Unutilized capital gain taxable as income u/s 45 after 3 Years

Conclusion: Unutilized capital gain amount under Section 54F had to be charged under Section 45 as income of the previous year, after the expiry of three years from the date of sale of the capital asset as per proviso appended to Section 54F and withdrawal of amount was permitted subject to deduction of tax.

Held: Assessee had sold two properties and out of the sale consideration a certain amount was deposi

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