Capital Gain A/c- Withdrawal for other purposes

In this case, you will be required to file Form - D to the concerned Assessing Officer.

As far as, the main question is concerned - Yes, It will be taxable in the year of its withdrawal. 

Hey Prajjwal thanks for your reply! I just wanted to know where exactly in the law is it written that it will be taxed in the year of withdrawal since the legal text simply states that the amount not utilised for purchasing the new asset within the period of 2/3 years will be taxable in the year in which 2 years from the date of transfer of original asset expires. I could not find any mention of the provision in case of withdrawal for other than specified purpose. Please let me know in case you have any idea!

tax chargeable under withdrawal financial year

Thank you for your reply Mr. Anil. I just wanted to know the legal provisions according to which it would be taxable in the year of withdrawal

capital gain amount withdrawal procedure and can use registration purpose for some amount it possible?