https://www.taxtmi.com/caselaws?id=190727 The Tribunal allowed the appeal of the assessee, holding that the entire capital gains amount was invested in the new residential property before the extended due date for filing the return. Citing a precedent from the Hon'ble Karnataka High Court, the Tribunal ruled that the assessee was entitled to the deduction under section 54F of the Income-tax Act, despite not filing the return within the extended due date, as the capital gains were utilized for purchasing the property before the extended due date under section 139(4) of the Act. en-us Wed, 20 Jan 2016 00:00:00 +0530 Fri, 24 Feb 2017 00:15:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190727 The Tribunal allowed the appeal of the assessee, holding that the entire capital gains amount was invested in the new residential property before the extended due date for filing the return. Citing a precedent from the Hon'ble Karnataka High Court, the Tribunal ruled that the assessee was entitled to the deduction under section 54F of the Income-tax Act, despite not filing the return within the extended due date, as the capital gains were utilized for purchasing the property before the extended due date under section 139(4) of the Act. Case-Laws Income Tax Wed, 20 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190727