Exemption for capital gains on industrial relocation requires reinvestment or deposit under a notified scheme to defer tax. Exemption applies when capital assets of an industrial undertaking are transferred due to shifting from an urban to a non-urban area and the assessee ... Summary
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Exemption for capital gains on industrial relocation requires reinvestment or deposit under a notified scheme to defer tax.
Exemption applies when capital assets of an industrial undertaking are transferred due to shifting from an urban to a non-urban area and the assessee reinvests the gain by purchasing new plant or machinery, acquiring or constructing premises, shifting the establishment, or incurring scheme-specified expenses within the prescribed period; unutilised amounts must be deposited under a notified scheme before return filing and unutilised deposits are charged as income when the utilisation period expires.
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