https://www.taxtmi.com/caselaws?id=342418 The Tribunal allowed the appeal, stating the Assessing Officer can assess the capital gain as per Section 54F but not for the current year. The judgment clarifies the conditions and consequences of claiming exemption under Section 54F, emphasizing the importance of timely utilization of capital gains deposited in a capital gain account for new asset purchase or construction to avoid tax implications. en-us Fri, 31 Mar 2017 00:00:00 +0530 Thu, 04 May 2017 06:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342418 The Tribunal allowed the appeal, stating the Assessing Officer can assess the capital gain as per Section 54F but not for the current year. The judgment clarifies the conditions and consequences of claiming exemption under Section 54F, emphasizing the importance of timely utilization of capital gains deposited in a capital gain account for new asset purchase or construction to avoid tax implications. Case-Laws Income Tax Fri, 31 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342418