Denied Rs 91.45 lakh capital gains deduction after selling a plot, taxpayer challenges Income Tax Department’s order in ITAT and wins case

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The Income Tax Appellate Tribunal (ITAT) Pune ruled that investing full capital gains into a new property qualifies for Section 54F exemption, even if the entire sale consideration wasn't deposited in the Capital Gains Account Scheme (CGAS) before filing the ITR. This decision favored Mr.