ZAFAR IQBAL,SILIGURI vs. DCIT, CIRCLE - 1, SILIGURI, SILIGURI

In the result, the appeal filed by the assessee is partly allowed for\nstatistical purposes

section 54F makes\nit clear that the sale consideration not utilised by the assessee for\npurchasing or construction of residential house property shall be\ndeposited in the Capital Gain Accounts in accordance with the\nprovisions of Capital Gain Accounts Scheme, 1988. Also the assessee\nshall not have more than one residential house other than the new\nresidential house property

SAROJ GOENKA,KOLKATA vs. I.T.O., WARD - 30(1), KOLKATA

In the result, the appeal of the assessee is allowed