Sec. 54 exemption is available even if sum wasn’t deposited in Capital Gain Scheme: ITAT

INCOME TAX : Where assessee had substantially complied with provisions of section 54(1) by purchasing new house property within prescribed time period, a mere non-compliance of procedural requirement under section 54(2) i.e. some delay in depositing amount in CGAS, could not stand in way of assessee in getting benefit under section 54

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000195214/sec-54-exemption-is-available-even-if-sum-wasn’t-deposited-in-capital-gain-scheme-itat.aspx