https://www.taxtmi.com/caselaws?id=331809 The HC held that for exemption under Section 54F(4), the capital gains amount must be utilized or deposited in a notified bank account before filing the return of income. Since the appellant had not utilized or deposited the entire capital gains amount by the return filing date, the exemption was denied. The court rejected reliance on the Gauhati HC decision, affirming that the Assessing Officer correctly disallowed the exemption. The decision was against the assessee. en-us Thu, 18 Aug 2016 00:00:00 +0530 Wed, 23 Jul 2025 16:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331809 The HC held that for exemption under Section 54F(4), the capital gains amount must be utilized or deposited in a notified bank account before filing the return of income. Since the appellant had not utilized or deposited the entire capital gains amount by the return filing date, the exemption was denied. The court rejected reliance on the Gauhati HC decision, affirming that the Assessing Officer correctly disallowed the exemption. The decision was against the assessee. Case-Laws Income Tax Thu, 18 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331809