Section 54F Deduction can be Allowed even if Amount not Deposited in Capital Gains Account Scheme: ITAT [Read Order]

By Kalyani B. Nair - On April 6, 2023 6:00 pm - 2 mins read
Deduction - Amount not Deposited - Capital Gains Account Scheme - Capital Gain - ITAT - Income Tax - Taxscan

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT), ruled that Section 54F Deduction under the Income Tax Act, 1961 can be allowed even if amount not Deposited in Capital Gains Account Scheme. The assessee, T Pandian, filed his return of income for the assessment year 2016-17 declaring an income. The return filed by…

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