Section 89 — Extension of time for acquiring new asset or depositing or investing amount of capital gains

Irrespective of anything contained in sections 82, 83, 84, 85 and 86,—
( a) if the transfer of the original asset mentioned in those sections is by way
of compulsory acquisition under any law; and
( b) if the compensation awarded for such acquisition is not received by the
assessee on the date of transfer, then, the period available to him under
those sections for acquisition of the new asset or investment or deposit
of capital gain in specified bank or institution shall be reckoned from
the date of receipt of compensation.