Sec. 54F relief allowable on deposit of amount in saving bank a/c opened for capital gain exemption: ITAT

IT : Where assessee received compensation on compulsory acquisition of his land by RIICO and at time of filing of return of income, entire compensation stood deposited in savings bank account maintained with HDFC bank which was opened specifically for purpose of depositing compensation received by assessee(substantial compliance of section 54F(4)) and withdrawals had been limited to extent of purchase of plot of land and partial construction thereon,

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