https://www.taxtmi.com/caselaws?id=421012 The Tribunal upheld the decision of the Assessing Officer and Commissioner of Income Tax (Appeals), ruling that the assessee was not entitled to the benefit under Section 54 of the Income Tax Act due to the failure to deposit capital gains in the specified account before the due date under Section 139(1). The Tribunal emphasized strict adherence to the legislative provisions, dismissing the appeal and highlighting that a liberal interpretation would contradict the statutory framework. The order was pronounced on 12/04/2022. en-us Tue, 12 Apr 2022 00:00:00 +0530 Fri, 15 Apr 2022 12:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421012 The Tribunal upheld the decision of the Assessing Officer and Commissioner of Income Tax (Appeals), ruling that the assessee was not entitled to the benefit under Section 54 of the Income Tax Act due to the failure to deposit capital gains in the specified account before the due date under Section 139(1). The Tribunal emphasized strict adherence to the legislative provisions, dismissing the appeal and highlighting that a liberal interpretation would contradict the statutory framework. The order was pronounced on 12/04/2022. Case-Laws Income Tax Tue, 12 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421012