slump sale of its unit, raised a claim for
deduction under Section 54EC of ₹ 50 lacs. The Pr. CIT held a firm
conviction that ... 2025
Netmatrix Crop Care Pvt. Ltd.
deduction u/s 54EC of the Act, as it was available only in the case
of the sale
information.
2.1 The AO observed that the assessee claimed deduction u/s
54EC to the extent of Rs. 1,00,00,000/- for one sale ... crore u/s
2
ITA No. 269/Hyd/17
Subrahmanyam Kotikalapudi
54EC is eligible, since assessee invested Rs. 50 lakhs
with reference to claim of
investment made in bonds u/s. 54EC Income Tax Act [Act]. In the
appeal filed, assessee has raised grounds ... erred in allowing appellant's claim
of exemption u/s. 54EC on pro-rata basis instead of actual investment in
54EC bonds
from long term capital gain including his claim for
exemption under section 54EC of the Act.
4
ITA.No.1652/Hyd/2013 ... exemption of Rs.50 lakhs was claimed by the
assessee under section 54EC of the Act for investment made in
purchase of Rural Electrification Corporation
reason
that large amount of deduction were claimed u/s 54F and 54EC
of the Act. Notices u/s 142(1) of the Act were ... allowing
deduction of Rs.25,42,055/- u/s 54EC and disallowing the
deduction of Rs.3,88,83,000/- claimed u/s 54F vide
immovable
property, computation of long term capital gain, deduction
claimed u/s 54EC and deduction claimed u/s 54F of the
Income ... details of
investment made in specified bonds to claim deduction u/s
54EC of the Act and also explained deduction claimed under
Section
deduction
of Rs. 17,85,480/- u/s 54EC of the IT Act. The
assessment was completed ... offered the long term capital
gains and claimed exemption u/s 54EC of the IT Act
towards investments in REC bonds. The A.O observed
statute and as such it is entitled for exemption under S.54EC
of the Act. Assessing Officer considered the explanation of the assessee
and also ... plots in specified securities in accordance
with the provisions of S.54EC, the CIT(A) held that the assessee is
eligible for exemption under
income of Rs.1,90,16,300/- after
claiming exemption u/s.54EC of the Income tax Act, 1961 ("the Act").
During ... computation
of capital gains is concerned, the assessee claimed exemption u/s.54EC of
the Act to the extent of Rs.1 Crore
individual and has offered
capital gains claiming deduction u/s. 54EC & 54F of the Income
Tax Act [Act]. The assessment ... capital gains of Rs. 92,40,479/- and claimed
deductions u/s. 54EC to an extent of Rs. 39,30,000/- and
proportionate claim
