Fixed Deposit Investment of Sale Proceeds Qualifies as Capital Asset for Exemption Under Section 11(1A)
Fixed Deposit Investment of Sale Proceeds Qualifies as Capital Asset for Exemption Under Section 11(1A) Issue Whether investment of net sale proceeds from a trust property into a bank fixed deposit for two years constitutes acquisition of “another capital asset” under Section 11(1A), entitling the charitable trust to exemption and refund under Section 264 despite… Read More »