https://www.taxtmi.com/caselaws?id=415228 The Tribunal held that the assessee complied with the provisions of section 54F of the Income Tax Act by investing the capital gains amount before the due date of filing the return under section 139(4). It was emphasized that section 139 encompasses all subsections, not limited to subsection (1). Consequently, the denial of deduction by the Commissioner of Income Tax (Appeals) was set aside, and the assessee was allowed to claim the deduction under section 54F. The judgment clarifies the importance of adhering to specified due dates for claiming deductions under the Act. en-us Mon, 25 Oct 2021 00:00:00 +0530 Tue, 30 Nov 2021 08:32:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415228 The Tribunal held that the assessee complied with the provisions of section 54F of the Income Tax Act by investing the capital gains amount before the due date of filing the return under section 139(4). It was emphasized that section 139 encompasses all subsections, not limited to subsection (1). Consequently, the denial of deduction by the Commissioner of Income Tax (Appeals) was set aside, and the assessee was allowed to claim the deduction under section 54F. The judgment clarifies the importance of adhering to specified due dates for claiming deductions under the Act. Case-Laws Income Tax Mon, 25 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415228