https://www.taxtmi.com/caselaws?id=7432 Capital gains relief under section 12B(4)(b) of the Indian Income-tax Act, 1922 was available where the statutory reinvestment period was satisfied on the facts found. The sale transactions for the property extended over more than one stage and beyond the accounting year, but that did not defeat the relief because the assessee had acquired another bungalow within the prescribed period. Whether transfer occurred only on execution of the sale deeds or at an earlier stage did not alter the result. The question of use of the premises within two years was not examined and remained outside consideration. en-us Tue, 10 Sep 1968 00:00:00 +0530 Thu, 19 Feb 2009 18:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7432 Capital gains relief under section 12B(4)(b) of the Indian Income-tax Act, 1922 was available where the statutory reinvestment period was satisfied on the facts found. The sale transactions for the property extended over more than one stage and beyond the accounting year, but that did not defeat the relief because the assessee had acquired another bungalow within the prescribed period. Whether transfer occurred only on execution of the sale deeds or at an earlier stage did not alter the result. The question of use of the premises within two years was not examined and remained outside consideration. Case-Laws Income Tax Tue, 10 Sep 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7432