Eligibility to exemption u/s.54F - Although the failure of the ...

Exemption Eligibility u/s 54F: Technical Default Doesn't Warrant Penalty if Intent and Investment Criteria Are Met.

January 24, 2018

Case Laws Income Tax AT

Eligibility to exemption u/s.54F - Although the failure of the assessee to deposit the sale proceeds in a Capital Gains Account Scheme, 1988 for intervening period was undoubtedly a technical default, he should not be penalized for the same because he satisfied the real intent as well as essence of the provisions by depositing the sale proceeds in FDR since beginning, not using it for any other purpose and investing the sale proceeds in acquisition of a new house within statutory period of 2 years. - AT

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Eligibility to exemption u/s.54F - Although the failure of the ...

Exemption Eligibility u/s 54F: Technical Default Doesn't Warrant Penalty if Intent and Investment Criteria Are Met.

January 24, 2018

Case Laws Income Tax AT

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