https://www.taxtmi.com/caselaws?id=799777 Bank fixed deposits made for at least six months from net consideration on transfer of trust property constitute acquisition of another capital asset for section 11(1A). Capital gains so reinvested qualify for exemption, and Form 10 is not required because the funds have been invested rather than accumulated for future application. Irrecoverable tax deducted at source, where it has not been claimed as a refund and directly relates to the trust's income receipts, qualifies as application of income. The trust may therefore claim exemption for qualifying capital-gains reinvestment and treat the TDS write-off as income application. en-us Wed, 16 Sep 2026 00:00:00 +0530 Sat, 26 Sep 2026 08:31:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799777 Bank fixed deposits made for at least six months from net consideration on transfer of trust property constitute acquisition of another capital asset for section 11(1A). Capital gains so reinvested qualify for exemption, and Form 10 is not required because the funds have been invested rather than accumulated for future application. Irrecoverable tax deducted at source, where it has not been claimed as a refund and directly relates to the trust's income receipts, qualifies as application of income. The trust may therefore claim exemption for qualifying capital-gains reinvestment and treat the TDS write-off as income application. Case-Laws Income Tax Wed, 16 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799777