No denial of sec. 54 exemption on non-deposit of sum in Capital Account Scheme if construction is completed in time

INCOME TAX : Where Single Judge in Writ Petition filed by assessee held that mere non-compliance of requirement under section 54(2) could not stand in way of assessee in getting benefit under section 54 if he fully complied with requirement under section 54(1) within time limit prescribed therein, since revenue filed instant Writ Appeal against order of Single Judge after implementing order passed by him in said Writ Petition, same was to be dismissed as having become infructuous

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