Electrification Corporation Limited Bonds (REC
Bonds) and sought its deduction under Section 54EC of the Act. The
::: Uploaded on - 04/09/2015 ::: Downloaded ... amount of Rs.22
lakh towards REC Bonds in terms of Section 54EC was accepted.
3. The assessee filed ITA No.9/NAG/2011 while
availed exemption under Section 54EC . But, under Section 54EC , the assessee should have made the investment in the bonds within six months from the date ... later, she found out that in order to avail exemption under Section 54EC , the amount had to be invested in the specified assets. Therefore
grounds raised before the Tribunal referred to sections 54
and 54EC and not to section 54F of the Act. Hence the instant appeal
consideration received as per column 2 to get the benefit
u/s.54EC & 54 F of the Income Tax Act, 1961 . Same is shown
benefit under
section 54 and is entitled only under
section 54F and 54EC of the Act as
accepted by the assessee is a debatable
issue
Dillip J. Giyanani vs State Of Maharashtra . on 7 September, 2015
Bench: Dipak Misra , Prafulla
