Tribunal held that the assessee shall be entitled to exemption under section 54F of the Act with regard to utilization of the sale proceeds which were within three years from the date of sale of the original asset. However as there was no clarity as regards date of utilisation of amounts and when assessee incurred expenditure for registration of property . Matter remanded to Assessing Officer for examination ( AY.2016-17)
Rajyalakshmi Reguraj v. ITO (2021) 85 ITR 20 (SN)(Bang) (Trib)
S.54F : Capital gains- Investment in a residential house -No clarity as regards date of utilisation of amounts and when assessee incurred expenditure for registration of property — Matter remanded to Assessing Officer for examination [ S.45 ]