https://www.taxtmi.com/caselaws?id=212457 The Tribunal upheld the CIT(A)'s decision to allow exemption under Section 54EC for Short Term Capital Gain computed under Section 50, citing that Section 54EC applies to both Long Term and Short Term Capital Gain. The Tribunal dismissed the Revenue's appeal, affirming the exemption and ruling against the Revenue on other grounds related to Cost Inflation Index application, adoption of Fair Market Value, and set off of Short Term Capital Gain against brought forward Long Term Capital Loss. en-us Thu, 30 Jun 2011 00:00:00 +0530 Fri, 23 Nov 2012 11:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212457 The Tribunal upheld the CIT(A)'s decision to allow exemption under Section 54EC for Short Term Capital Gain computed under Section 50, citing that Section 54EC applies to both Long Term and Short Term Capital Gain. The Tribunal dismissed the Revenue's appeal, affirming the exemption and ruling against the Revenue on other grounds related to Cost Inflation Index application, adoption of Fair Market Value, and set off of Short Term Capital Gain against brought forward Long Term Capital Loss. Case-Laws Income Tax Thu, 30 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212457