Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2019 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (3) TMI 205 - AT - Income TaxDeduction u/s 54EC - Reopening of assessment - scope of amendment - HELD THAT:- When the case of the assessee was reopened on 14.03.2014, this amendment was not in existence and therefore restrictions imposed by statue under first proviso of section 54EC will not be applicable here. Thus we find substance in the argument advanced by the AR. Taking into consideration the order passed by the Learned Tribunal we are of the view that the assessee is entitled to exemption on the investment made of ₹ 50 lacs in NHAL bond on 13.04.2011 for long term capital gain since the same was invested within 6 months from the transfer of the capital asset. We delete the addition made by the authorities below. - Decided in favour of assessee.
|