there is no error in allowing the deduction u/s.54EC
of the Act. He further pointed out that in the course of assessment preceding ... also beyond six months because the period of
Six months in section 54EC is to be taken from the date of transfer, not from
22679792/- and claimed deduction of
Rs.50 lacs u/s 54EC of the Act. The computation sheet for the same was filed. It filed
revised ... 22508835/-. Assessee claimed deduction
of Rs.50 lacs u/s 54EC of the Act, in the revised return of income also. The computation
sheet
amount of Rs.90 Lakh received.
The assessee claimed deductions u/s 54EC for Rs. 40 (Forty) Lakh and
5
ITA No. 226/Kol/2022 ... latter registered agreement dated
26.09.2014 and allowed the deduction u/s 54EC of the Act from the
capital gains arising from such
Less: Exempted
Investment in N.H. Bonds (Section 54EC) 50,00,000/-
Investment in Land 3,50,500/-
Investment in NH Bonds ... Therefore, according to
AO, the claim of exemption u/s. 54EC of the Act for purchasing of bond on 03.06.2009 was
erroneous since the same
revenue is, whether the assessee is
eligible for deduction u/s. 54EC of the Act on investment in REC Capital Gain Bonds on
account ... erred in
directing the Assessing Officer to allow deduction u/s. 54EC in the hand of the minor
2 ITA 951/K/2011 Shri Rajev
amounting to Rs.50 Lacs which was the limit imposed u/s 54EC for
the first time by the Govt. of India through its Notification ... dated 22.12.2006
even though no such ceiling was statutorily provided in Sec. 54EC of the Act.
4) For that on the facts
revenue is, whether the assessee is
eligible for deduction u/s. 54EC of the Act on investment in REC Capital Gain Bonds on
account ... erred in
directing the Assessing Officer to allow deduction u/s. 54EC in the hand of the minor
2 ITA 951/K/2011 Shri Rajev
confirming the action of Assessing Officer in disallowing exemption u/s. 54EC of the Act. We
will take up the issue from ITA No.1147 ... everything possible on his part to comply with the
requirements of section 54EC of the Act.
5. On the facts and in the circumstances
expenses and Rs.40,00,000/- towards claim of exemption u/s. 54EC of
the Act and determined the long term capital gains ... disallowance of
Rs.40,00,000/- towards claim of exemption u/s. 54EC of the Act by
the CIT-A.
12. During the assessment proceedings
that the assessee has claimed
exemption of Rs. 1 crore u/s 54EC of the Act though the assessee against above claim
of exemption ... date of transfer the assessee entitled to claim
deduction u/s 54EC of the Act. The ld. AR submits that language of Section 54EC
proviso
