https://www.taxtmi.com/caselaws?id=55416 The Tribunal interpreted Section 54E of the Income Tax Act, emphasizing that the crucial factor for relief eligibility is the actual receipt of consideration for the transfer, not just the date of transfer. It ruled that the assessee must deposit the consideration in specified assets within 6 months from the date of receipt as per the agreement terms. The Tribunal set aside the CIT(A)'s decision and remitted the matter to the ITO for determining the exact dates of receipt and deposit to grant relief under Section 54E. The appeal was allowed for statistical purposes, providing clarity on relief eligibility criteria. en-us Sat, 24 Mar 1984 00:00:00 +0530 Fri, 26 Nov 2010 18:53:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55416 The Tribunal interpreted Section 54E of the Income Tax Act, emphasizing that the crucial factor for relief eligibility is the actual receipt of consideration for the transfer, not just the date of transfer. It ruled that the assessee must deposit the consideration in specified assets within 6 months from the date of receipt as per the agreement terms. The Tribunal set aside the CIT(A)'s decision and remitted the matter to the ITO for determining the exact dates of receipt and deposit to grant relief under Section 54E. The appeal was allowed for statistical purposes, providing clarity on relief eligibility criteria. Case-Laws Income Tax Sat, 24 Mar 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55416