a person sell his RHP in2016 and go to bank for open a capital gain account but bank make a mistake. bank had not open a cga. bank could not follow the procedure incorporated CGAS. what he do
Take a letter from the Bank that it was their mistake they could not open it as per the Capital gain account scheme. And request them to do compliance now. Taking the letter from the bank will keep you on safer side.
bank give a latter but AO make a investigation and bank denies
Guest
Bank cannot deny when they have given a letter with the due stamp and signature of the authorised person. In my opinion, it should hold as a valid proof. By the way is the capital gain amount now used to buy another property (u/s 54?)
case in assessee's favour
Income Tax Officer-1(1), Lucknow vs Smt. Aarti Kumaria, Lucknow on 14 March, 2018
CAclubindia
