{"id":20145,"date":"2021-07-11T12:35:59","date_gmt":"2021-07-11T07:05:59","guid":{"rendered":"https:\/\/itatonline.org\/digest\/ashok-kumar-wadhwa-v-acit-2021-bcaj-april-p-56-delhi-trib\/"},"modified":"2021-07-11T12:35:59","modified_gmt":"2021-07-11T07:05:59","slug":"ashok-kumar-wadhwa-v-acit-2021-bcaj-april-p-56-delhi-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/ashok-kumar-wadhwa-v-acit-2021-bcaj-april-p-56-delhi-trib\/","title":{"rendered":"Ashok Kumar Wadhwa v. ACIT ( 2021) BCAJ \u2013 April \u2013 P. 56 ( Delhi ) ( Trib)"},"content":{"rendered":"<p>Allowing the appeal of the assessee the Tribunal held that\u00a0 section 54 (1) are mandatory and substantive in nature \u00a0, while provision of sub section (4) \u00a0of section 54F are procedural . Accordingly when sale consideration was not deposited in a bank as per capital gain account scheme \u00a0however investment in acquisition of house was made with in the time prescribed , denial of exemption was held to be not justified. Followed CIT v. K .Ramachnndra Rao (2015 ) 230 Taxman 334 \u00a0( Karn) ( HC)\u00a0 , Vatsala Ashthana v. ITO ( 2019 ) 179 ITD 297 110 ( Delhi) ( Trib)\u00a0 ( ITA No. 114\/ Del\/ 2020 dt 2-3 -2021 ( AY. 2016 -17 )<\/p>\n<p>A<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.54F : Capital gains- Investment in a residential house \u2013 Sale consideration was not deposited in a bank as per capital gain account scheme \u2013 Investment in acquisition of house was made with in the time prescribed \u2013 Denial of exemption was held to be not justified [ S.45 54F(4) ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-20145","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-5eV","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/20145","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=20145"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/20145\/revisions"}],"predecessor-version":[{"id":20146,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/20145\/revisions\/20146"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=20145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=20145"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=20145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}