SHRI PRINCEPREETJIT SINGH,RANJIT NAGAR vs. PR.CIT-1, CHANDIGARH
In the result, appeal of the assessee is allowed
ITA 54/CHANDI/2021[2015-16]Status: DisposedITAT Chandigarh21 Apr 2025AY 2015-16
Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)
For Appellant: Shri Parikshit Aggarwal, C.AFor Respondent: Shri Chandrajit Singh, CIT, DR(Virtual)
Section 143(3)Section 263Section 54BSection 54F
54E, was held by the Tribunal to be equally applicable to s. 54B, as the purpose and spirit of both sections are identical—ensuring that where capital gains are reinvested in qualifying assets, the benefit of exemption should be granted, even if such reinvestment occurs before formal execution of the transfer deed. This interpretation has received judicial recognition in multiple
