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2012 (7) TMI 555 - AT - Income TaxDisallowance of claim u/s 54F - that appellant did not deposit the sale consideration, on sale of shares, in capital gains account scheme before due date for furnishing return - Held that:- Appellant not having filed his return of income for AY 2008-09 within the time allowed u/s 139(1), is eligible to do so till 31-3-2009 which is the extended time u/s Sec.139(4) and accordingly he filed it on 9-1-2009 - the amount utilized by the assessee for purchase of new residential house before 9.1.2009 qualifies for consideration with reference to which deduction u/s 54F(1) is to be computed. Thus, the CIT(A) was not justified in holding that only the amount which was utilized by the assessee before 31.3.2008 only qualifies for deduction - in favour of assessee.
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