Deposit in capital gain a/c scheme isn’t a mandatory condition to claim sec. 54 relief: Madras HC

INCOME TAX : Mere non compliance of a procedural requirement under section 54(2) itself cannot stand in way of assessee in getting benefit under section 54, if he is, otherwise, in a position to satisfy that mandatory requirement under section 54(1) is fully complied with within time limit prescribed therein

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000191576/deposit-in-capital-gain-ac-scheme-isn’t-a-mandatory-condition-to-claim-sec-54-relief-madras-hc.aspx