THE ITO,, COCHIN vs. LATE SRI.K.SASIDHARAN REP BY SMT. K.P.SAILAJA, COCHIN

In the result, the appeal filed by the Revenue is partly allowed for

Bench: S/Shri Chandra Poojari , Am & George George K., Jm

capital gain account Scheme to be utilized for the purchase of house property and for completion of the construction, instead deposited the same in his ordinary Savings Account. It was submitted that Section 54F being a benevolent provision intended for development of infrastructure calls for a liberal interpretation. It was submitted that beneficial provisions of law should be interpreted fairly