https://www.taxtmi.com/caselaws?id=18042 The court ruled against the assessee, finding that the computation and assessment of capital gains were correct. The court held that the capital gain was to be taxed due to the sale of the new asset within three years, forfeiting the initial exemption. The court also determined that the assessee was not entitled to the benefit of section 80T for the capital gain from the sale of the property, in favor of the Revenue. The court acknowledged the amicus curiae's assistance and recommended a token payment for their efforts. en-us Thu, 05 Sep 1996 00:00:00 +0530 Sat, 26 Sep 2009 13:27:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18042 The court ruled against the assessee, finding that the computation and assessment of capital gains were correct. The court held that the capital gain was to be taxed due to the sale of the new asset within three years, forfeiting the initial exemption. The court also determined that the assessee was not entitled to the benefit of section 80T for the capital gain from the sale of the property, in favor of the Revenue. The court acknowledged the amicus curiae's assistance and recommended a token payment for their efforts. Case-Laws Income Tax Thu, 05 Sep 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18042