https://www.taxtmi.com/caselaws?id=306746 The Tribunal set aside the CIT (A)'s order and remitted the matter back to the Ld. DIT (International Taxation) to verify if the NRIs complied with Section 54F and deposited the sale proceeds in the LTCG Scheme account. If compliance is established, the demand under Sections 201(1) and 201(1A) should be deleted. If not, the Ld. DIT (International Taxation) may pass an appropriate order after providing the assessee an opportunity to be heard. The appeal by the Revenue was allowed for statistical purposes, with directions for the assessee to cooperate with the Revenue authorities. en-us Thu, 25 Jun 2020 00:00:00 +0530 Thu, 23 Feb 2023 02:54:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306746 The Tribunal set aside the CIT (A)'s order and remitted the matter back to the Ld. DIT (International Taxation) to verify if the NRIs complied with Section 54F and deposited the sale proceeds in the LTCG Scheme account. If compliance is established, the demand under Sections 201(1) and 201(1A) should be deleted. If not, the Ld. DIT (International Taxation) may pass an appropriate order after providing the assessee an opportunity to be heard. The appeal by the Revenue was allowed for statistical purposes, with directions for the assessee to cooperate with the Revenue authorities. Case-Laws Income Tax Thu, 25 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306746