If their is any justified decision taken by the supreme court against 54F exemption claimed but failed to deposited into capital Gain Account Scheme before furning return 139(1) by the assessee. Any cas is their
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54f exemption claimed but failed to deposited into cgac
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i dont remember any such case... according to law, failure to deposit into cgas a/c will withdraw exemption of 54f and it will be taxed accordingly.
Sometimes ITO has allowed exemption because it has invested in another property within the prescribed period and before filing ITR u/s 139(1). And sometimes they disallow it, but I think if the assessee invests in another property within the same FY and files ITR u/s 139(1), then the ITO shall allow the exemption.
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