lakh on the sale proceeds after
claiming deduction u/s.54EC and 54G of the Act.
Out of the above claim, disallowance ... land as long term capital gain and claimed
deduction u/s.54EC and 54G . However, the same
is not allowable to you in view
second ground for reopening the
assessment, namely, deduction under section 54EC
of the Act is concerned, it is evident that during the
course of proceedings ... petitioner, had
allowed the deduction of Rs.81,00,000/- under
section 54EC of the Act. From the reasons recorded,
it appears that the ground
DATED: 29/08/2023
undefined
respect of the exemption claimed under
Section 54EC of the Act and by order dated
24.03.2017 set aside the order ... proposing that there was an error
of allowing exemption under Section 54EC of
the Act amount exceeding Rs.50,00,000/- and
by order dated
year 1981,
was also indicated. The exemption was claimed under section 54EC of
the Act by investing the amount received towards share of sale
consideration ... crores (approximated)
as stated above in a combination of bonds under section 54EC of the Act
and purchase of flat.
5.3 Learned advocate
under
Section 54EC of the Act, 1961.
6 It is the case of the department that upon due verification
of the transaction, it was found
Commissioner Of Income Tax-Ii vs Kulgam Holdings Pvt ... on 15 January, 2014
Author: Akil
second
reason pertains to the deduction claimed by the assessee under
Section 54EC of the Income Tax Act,1961, which, according to
the Assessing Officer
consideration received as per column 2 to get the benefit
u/s.54EC & 54 F of the Income Tax Act, 1961 . Same is shown
were invested in the bonds of NABARD for taking benefit
under section 54EC of the Act, which clearly shows that the assessee
had always treated ... exempt
in view of the provisions of section 54EC of the Act as the assessee
had made investment in the Bonds of NABARD
were invested in the bonds of NABARD for taking benefit
under section 54EC of the Act, which clearly shows that the assessee
had always treated ... exempt
in view of the provisions of section 54EC of the Act as the assessee
had made investment in the Bonds of NABARD
