https://www.taxtmi.com/caselaws?id=783382 ITAT Ahmedabad allowed the assessee's appeal, holding that exemption u/s 54B could not be denied merely on account of non-deposit of unutilized capital gains in the Capital Gain Account Scheme, where reinvestment conditions were otherwise met. The Tribunal found that the assessee had purchased eligible agricultural land within the prescribed period, with the sale deed executed, cheques issued for full consideration, and sufficient bank balance maintained on 14.08.2019. As the substantive requirement of reinvestment in specified assets within time was fulfilled and undisputed, exemption u/s 54B was granted. en-us Wed, 10 Dec 2025 00:00:00 +0530 Mon, 15 Dec 2025 08:39:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783382 ITAT Ahmedabad allowed the assessee's appeal, holding that exemption u/s 54B could not be denied merely on account of non-deposit of unutilized capital gains in the Capital Gain Account Scheme, where reinvestment conditions were otherwise met. The Tribunal found that the assessee had purchased eligible agricultural land within the prescribed period, with the sale deed executed, cheques issued for full consideration, and sufficient bank balance maintained on 14.08.2019. As the substantive requirement of reinvestment in specified assets within time was fulfilled and undisputed, exemption u/s 54B was granted. Case-Laws Income Tax Wed, 10 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783382