assessee. Besides the assessee has been deprived for
claiming exemption u/s 54EC and other provisions of
section 54 , due to non-receipt of entire ... arise:
1, Assesses will be deprived from availing the exemption u/s
54EC since no funds are available with the assessee for
investment.
2, Assessee
final sale, would entitle the respondent assessee to the
benefit of Section 54EC of the Act.
4. The impugned order of the Tribunal records ... that the
respondent assessee is not entitled to the benefit of
Section 54EC of the Act as the amounts were invested in
the bonds prior
issues in respect of investment in house property u/s 54F and
54EC was scrutinised by the Assessing Officer in depth and as such
revising ... Deduction under section 54EC : The perusal of the assessment record
4hows that the assessee has sold the commercial property on 23-12-2014 and
made
claimed them to be
exempt u/s 54EC by making investment in bonds of Rural Electrician
Corporation Ltd. As the transfers of shares took place ... have been
taxed in that year. Further that for claiming exemption us 54EC, the
investment had to be made within 6 months of the date
erred in upholding the denial of deduction claimed
under section 54 and 54EC claimed by the assessee which is
arbitrary and unjustified ... Chandigarh, as long-term capital gain,
claimed deductions under Sections 54 and 54EC of the Act. The amount was
received in lieu of relinquishment
Assessing Officer
on account of disallowance of exemption u/s 54EC of the Income-
tax Act, 1961.
(b) That ... therefore, he issued a show cause notice that why exemption u/s 54EC
should not be denied. In response the assessee placed reliance
rejected the objection of the assessee regarding withdrawal of
exemption under Section 54EC of the Act by noticing that the assessee was
not eligible ... exemption under Section 54EC since the investment was
not made within six months after the date of transfer which is an eligibility
criterion for claiming
rejected the objection of the assessee regarding withdrawal of
exemption under Section 54EC of the Act by noticing that the assessee was
not eligible ... exemption under Section 54EC since the investment was
not made within six months after the date of transfer which is an eligibility
criterion for claiming
Sh. Amar Singh, Jagadhari vs Ito, Yamunanagar on 26 February, 2018
IN THE INCOME TAX
Sh. Jai Ram, Jagadhari vs Ito, Yamunanagar on 26 February, 2018
IN THE INCOME TAX
