COMMISSIONER OF INCOME TAX Vs. FABIOLA STEPHEN

JUDGEMENT

(1.) This tax case appeal is filed by the Revenue raising the following substantial questions of law :

(2.) Heard Mr.M.Swaminathan, learned Senior Standing Counsel for the Revenue.

(3.) The respondent/assessee sold a plot of land for a consideration of Rs.20,67,000/- on 21.6.2007. For the assessment year 2008-09, she deposited an amount of Rs.18,25,000/- in the capital gains account scheme within the stipulated time and availed exemption under Section 54.