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2016 (11) TMI 1709 - AT - Income TaxDeduction u/s 54F - as observed that the assessee claimed that the entire sale consideration was deposited in the Nationalized Bank as well as in capital gain account however, no documentary evidence was submitted to the AO - as contended by the assessee that since the investment is made before the due date of filing of return under section 139(4) of the Act and also before the date of filing of return on 21.02.2013, the assessee is eligible for deduction u/s 54B & 54F even if he has not deposited the amount in capital gain account - HELD THAT:- The Coordinate Bench of the Tribunal while deciding the identical issue in the case of Nand Lal Sharma [2015 (6) TMI 482 - ITAT JAIPUR] as relying on ASHOK KAPASIAWALA VERSUS THE ITO WARD-7 (1) , SURAT [2015 (10) TMI 2045 - ITAT AHMEDABAD] ,ASHOK KAPASIAWALA VERSUS THE ITO WARD-7 (1) , SURAT [2015 (10) TMI 2045 - ITAT AHMEDABAD], SMT. VRINDA P. ISSAC [2012 (8) TMI 608 - KARNATAKA HIGH COURT] as decided in favour of assessee.
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