The Economic Times

Man sold land for Rs 3.21 crore, denied tax relief under Section 54F: Why ITAT Pune allowed full tax exemption

A Pune man successfully challenged the Income Tax Department, securing a full tax exemption on his Rs 3.21 crore land sale. Despite a technical error of not fully depositing sale proceeds into a special account (CGAS) before filing his ITR, the ITAT Pune ruled in his favor, citing legislative intent to encourage house investment.