deleted.
B) Disallowing the exemption claimed u/s. 54EC - Rs.
17,50,000/-
3. The learned CIT-(A) erred on facts ... disallowing
the exemption claimed by the appellant u/s. 54EC of Rs.
17,50,000/-.
4.The appellant prays that your honours hold that
invested in National Highway Authority of India bond and deduction
under section 54EC was claimed. Rs.25 lakh was deposited in capital gain
account with ... Account on 22.09.2009. Exemption of Rs.50 lac
was claimed u/s. 54EC
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
upholding the order of
Assessing Officer on denying the exemption u/s.54EC of the Act
investment in REC capital gains bonds falling ... complied with the provisions of
:- 3 -: ITA No.2254/Mds /2015.
Sec.54EC as investment was made within the period of six months
from
against which he has claimed
deduction under section 54EC of the Income-tax Act, 1961 (for
short 'the Act') of equal amount ... Less deduction u/s 54EC Rs. 3,00,000/-
Long Term Capital Gain Rs.11,36,211/-
and made an addition thereof to the total
After making investment
in specified bonds, deduction u/s. 54EC was claimed for Rs. 4,70,20,482. The
assessment ... Return of income.
Moreover, the investment in REC bond u/s. 54EC was disclosed vide Note
No.3 of return of income. The appellant
2008 and claimed exemption of Rs.1.00 crores
u/s. 54EC of the Act in respect of two separate investments ... claim for exemption of Rs.1.00 crores under section
54EC of the Act was based on a wrong interpretation of the provisions
of Section
certain properties and claimed exemption of Rs.1.00 crores u/s. 54EC of
the Act in respect of two separate investments ... claim for exemption of Rs.1.00 crores under section 54EC of the Act
was based on a wrong interpretation of the provisions of Section
holding
that the appellant was not entitled to claim deduction under
section 54EC on the sum of ` 30 lakh invested by the appellant
in Rural ... decision of the
Departmental Authorities in disallowing its claim under section 54EC of
the Act for an amount of ` 30 lakh.
5. Briefly stated
upholding the order of
Assessing Officer on denying the exemption u/s.54EC of the Act
investment in REC capital gains bonds falling ... assessee filed explanations that
assessee has complied with the provisions of Sec.54EC of the Act and
investments are made within a period
