https://www.taxtmi.com/caselaws?id=429772 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision to delete the addition of Rs. 5,70,95,075/- under Section 54 of the Income-tax Act, 1961. The Tribunal emphasized that the procedural delay in depositing the amount in the Capital Gains Account Scheme should not overshadow the substantial compliance with the requirement to invest in a new residential house within the specified timeframe as mandated by Section 54(1). en-us Wed, 02 Nov 2022 00:00:00 +0530 Thu, 03 Nov 2022 12:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429772 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision to delete the addition of Rs. 5,70,95,075/- under Section 54 of the Income-tax Act, 1961. The Tribunal emphasized that the procedural delay in depositing the amount in the Capital Gains Account Scheme should not overshadow the substantial compliance with the requirement to invest in a new residential house within the specified timeframe as mandated by Section 54(1). Case-Laws Income Tax Wed, 02 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429772