Court Rules Taxpayer Entitled to Deduction u/s 54F Despite Late Deposit, New Property Bought in Time.

Court Rules Taxpayer Entitled to Deduction u/s 54F Despite Late Deposit, New Property Bought in Time. https://www.taxtmi.com/highlights?id=48149 Deduction u/s 54F - amount not deposited within time limit u/s. 139(1) but purchase flat before the extended time of filing of return u/s. 139(4) - assessee is entitled deduction for utilization of sale consideration for investment in new residential property within due date as stipulated u/s 139 which cannot be meant only section 139(1) - deduction allowable en-us Tue, 23 Jul 2019 07:07:02 +0530 Tue, 23 Jul 2019 07:07:02 +0530 TaxTMI RSS Generator Court Rules Taxpayer Entitled to Deduction u/s 54F Despite Late Deposit, New Property Bought in Time. https://www.taxtmi.com/highlights?id=48149 Deduction u/s 54F - amount not deposited within time limit u/s. 139(1) but purchase flat before the extended time of filing of return u/s. 139(4) - assessee is entitled deduction for utilization of sale consideration for investment in new residential property within due date as stipulated u/s 139 which cannot be meant only section 139(1) - deduction allowable Highlights Income Tax Tue, 23 Jul 2019 07:07:02 +0530 https://www.taxtmi.com/highlights?id=48149