Kannan Murali (ARTICLE ASSISTANT) (52 Points)
01 August 2014If 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
Tribhuvan Aditya Singh
(Student as well as Self-employed)
(3710 Points)
Replied 01 August 2014
Mihir
(Wealth Manager)
(5293 Points)
Replied 02 August 2014
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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