TMI Blog2015 (2) TMI 1183X X X X Extracts X X X X X X X X Extracts X X X X ..... ORDER PER G. S. PANNU, AM By way of the present Miscellaneous Application, assessee has contended that certain mistakes apparent from record within the meaning of section 254(2) of the Income Tax Act, 1962 (in short the Act ) have crept into order of the Tribunal dated 30.04.2014. 2. The Miscellaneous Application reads as under :- Honourable Bench has noted the Facts in Para 5 of the Order. In brief those are, Assessee has made Investment U/s 54EC as under. On 28.03.2008 ₹ 50 Lakhs in Bonds of NHAI On 22.08.2008 ₹ 50 Lakhs in Bonds of REC ltd Assessee claimed the date of Transfer of property U/s 2(47) of IT Act 1961, as date of handing over possession to purchaser i.e. 01.03.2008. Whereas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e deduction for the Claim of Purchase of NHAI Bonds, the same need be adjudicated by the Honourable Bench. Appellant prays for adjudication in respect of the same. 3. The first mistake pointed out by the assessee is that in para 5 of the order, the date of investment in the bonds of REC Ltd. has been noted as 28.02.2008, which is incorrect. It is submitted that the correct date is 22.08.2008. In this context, reference has been made to the discussion in the assessment order to substantiate that the date of investment of ₹ 50,00,000/- made in the bonds of REC Ltd. is indeed 22.08.2008. Secondly, it is pointed out that in para 5 itself, the Tribunal has wrongly noted that the investment made in the bonds of NHAI on 23.02.2008 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... EC of the Act. The Tribunal in its order dated 30.04.2014 (supra) upheld the plea of the assessee that the date of transfer of the property is to be understood as 01.03.2008 and as a consequence, the impugned investments in the bonds of NHAI and REC Ltd. qualified for exemption u/s 54EC of the Act. However, the Tribunal inadvertently considered that the investment of ₹ 50,00,000/- made in the investment of NHAI bonds on 28.03.2008 stood allowed by the Assessing Officer. The Tribunal merely directed for the allowance of deduction u/s 54EC of the Act in relation to the investment of ₹ 50,00,000/- made in the bonds of REC Ltd. on 22.08.2008. Therefore, on this aspect also, the assessee has pointed out that the error needs to be cor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4EC of the Act. Accordingly, he disallowed exemption relating to the investment in the bonds of NHAI and REC Ltd. The CIT(A) has also sustained the action of the Assessing Officer and accordingly, the assessee is in appeal before us on the aforesaid issue. 9. Similarly, following portion appearing in para 20 of the order : 20. In this view of the matter, the investments in the bonds of REC Ltd. of ₹ 50,00,000/- made by the assessee on 22.08.2008 is within the period of six months from the date of transfer as prescribed in section 54EC of the Act and accordingly the assessee is eligible for deduction of ₹ 50,00,000/- u/s 54EC of the Act also. 5 shall be substituted by the following : 20. In t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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