https://www.taxtmi.com/caselaws?id=761183 The Karnataka HC held that mere non-deposit of sale consideration in a designated capital gains account does not disqualify an assessee from claiming exemption under Section 54F for long-term capital gains. Following the precedent in K. Ramachandra Rao case, the court ruled that the reassessment order and notices were contrary to law and quashed them, deciding in favor of the assessee. en-us Tue, 06 Aug 2024 00:00:00 +0530 Tue, 05 Nov 2024 11:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761183 The Karnataka HC held that mere non-deposit of sale consideration in a designated capital gains account does not disqualify an assessee from claiming exemption under Section 54F for long-term capital gains. Following the precedent in K. Ramachandra Rao case, the court ruled that the reassessment order and notices were contrary to law and quashed them, deciding in favor of the assessee. Case-Laws Income Tax Tue, 06 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761183