ITAT quashes Disallowance of Deduction u/s 54 merely based on Non-Deposit of Capital Gains in Capital Gain Account Scheme [Read Order]

ITAT - Deduction - Capital Gain - Capital Gain Account Scheme - Non Deposit of Capital Gain - ITAT Delhi - taxscan

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) quashed disallowance of deduction under Section 54 of the Income Tax Act, 1961 merely based on non-deposit of capital gains in capital gain account scheme The appeal of the assesse arose out of order dated 22.03.2022 passed by the Principal Commissioner of Income Tax (PCIT),…

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