SEEMA BANO,JHANSO vs. INCOME TAX OFFICER, WARD 2(3)(1), JHANSI

ITA 331/AGR/2026Status: DisposedITAT Agra18 August 2026AY 2020-2113 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the assessee had substantively complied with Section 54 by investing in a new residential property before the extended due date of filing the return. The requirement of depositing in the Capital Gains Account Scheme is a procedural condition and not a substantive one that overrides timely investment.

What were the facts?

The assessee sold an immovable property and claimed capital gains exemption under Section 54 by purchasing another residential property. The Assessing Officer denied the exemption for not providing evidence of depositing capital gains in a specified account before the due date. The CIT(A) upheld the AO's decision.

What were the issues?

Whether the assessee is eligible for capital gains exemption under Section 54 when the investment in a new property was made before the due date of filing the return, despite not depositing the capital gains in a specified account?

Which sections of the Income-tax Act were involved?

Section 54,Section 148,Section 148A(d),Section 250,Section 139(1)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, AGRA(SMC

Before: SUNIL KUMAR SINGHBRAJESH KUMAR SINGH

For Appellant: Shri Sanjeev Agarwal, CA
For Respondent: Shri Anil Kumar, Sr (DR)
Hearing: 23.06.2026Pronounced: 18.08.2026

PER:BRAJESH KUMAR SINGH, A.M.

This appeal is directed against the impugned order dated 01.04.2026 passed in appeal No NFAC/2019-20/10434072 by the National Faceless Appeal Centre (NFAC) [hereinafter referred to as the “CIT(A)] u/s. 250 of the Income Tax Act, 1961 (hereinafter referred to as the “Act”) for the A.Y. 2020-21, wherein ld CIT(A) has dismissed assessee’s appeal.

2.

Brief facts of the case: The AO had information that the assessee had sold an immovable property for Rs. 68,49,000/- on 28.02.2020 but the assessee had not filed her return of income for AY 2020-21. Accordingly, the AO issued notice u/s 148 of the Act, on 30.03.2024 and also passed an order us 148 A(d) of the Act on the same day. The assessee filed

The order continues below.

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