INCOME TAX: Where Assessing Officer denied section 54 deduction to assessee on ground that assessee had not deposited unutilized capital gain in a specified bank account within due date for filing return of income as contemplated under section 54(2) and assessee sought to file additional evidence to show that within a period of 3 years from date of transfer of capital asset, it had put up construction of residential house and, therefore, requirement of deposit of unutilized capital gain in a speINCOME TAX: Where Assessing Officer denied section 54 deduction to assessee on ground that assessee had not deposited unutilized capital gain in a specified bank account within due date for filing return of income as contemplated under section 54(2) and assessee sought to file additional evidence to show that within a period of 3 years from date of transfer of capital asset, it had put up construction of residential house and, therefore, requirement of deposit of unutilized capital gain in a spewww.taxmann.com Latest Case LawsRead More
