https://www.taxtmi.com/caselaws?id=118762 The Tribunal dismissed the appeal, upholding the denial of exemption under section 54F of the Income Tax Act. The assessee failed to deposit the net consideration from the sale of shares into a specified account, as required by section 54F(4). The Tribunal emphasized the necessity of statutory compliance, rejecting arguments for a liberal interpretation. en-us Fri, 30 Sep 2005 00:00:00 +0530 Wed, 10 Apr 2024 16:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118762 The Tribunal dismissed the appeal, upholding the denial of exemption under section 54F of the Income Tax Act. The assessee failed to deposit the net consideration from the sale of shares into a specified account, as required by section 54F(4). The Tribunal emphasized the necessity of statutory compliance, rejecting arguments for a liberal interpretation. Case-Laws Income Tax Fri, 30 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118762