Section 54EC deduction accepted for invested capital gains, eliminating tax liability on the disputed amount.

Long-term capital gains addition was not sustained because the Tribunal found the gains had been invested and the assessee qualified for deduction under Section 54EC. On that basis, it held that no tax liability arose on the disputed amount and resolved the issues in favour of the assessee.

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Issues: Whether the addition made towards long-term capital gains could be sustained and whether the assessee was entitled to deduction under Section 54EC on the investment made.

Analysis: The Tribunal noted that the capital gains had been invested and found the assessee eligible for deduction under Section 54EC. On that basis, it accepted that no tax liability arose in the assessee's hands for the disputed amount.

Conclusion: The issues were decided in favour of the assessee.

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