CORPORATE AND PROFESSIONAL UPDATE AUG 22, 2016
Professional Update For the Day: DIRECT TAX: ITAT Chennai held that exemption U/s. 54F will be allowed despite of delayed investment in Capital Gain Account Scheme. The provisions of section 54F are beneficial provisions and are to be considered liberally in the aspect of limitation period [ ACIT vs. Smt. Umayal Annamalai]. Allahabad HC upholds penalty …