Tag Archives: Section 54F Income tax Act

Assessee failed to utilize capital gains within 3 years, Sec 54F can’t be denied during assessment

By | April 30, 2017

Held As per proviso to sub-section (4) of Section 54F if the amount deposited in capital gain account is not utilized wholly or partly for purchase or construction of new asset within the period specified in sub-section (1) then the amount of capital gain shall be charged under Section 45 as income of the previous… Read More »