Depositing Unutilized Capital Gain in Deposit Account Scheme: ITAT grants Capital Gain Exemption [Read Order]

Capital - Gain - Deposit - Scheme - ITAT - Capital - Gain - Exemption - TAXSCAN

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT), granted exemption under Section 54 of the Income Tax Act, 1961 (capital gain exemption) on depositing unutilized capital gain in Deposit account scheme. The assessee, Arun Gupta has computed long term capital gains from sale of property and claimed exemption under Section 54 of the…

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