https://www.taxtmi.com/caselaws?id=212843 Section 54EA exemption was held applicable to enhanced compensation invested in notified securities within six months of receipt, even though the original compulsory acquisition occurred earlier. The provision was construed purposively alongside section 45(5), so that enhanced compensation is taxed on receipt and the reinvestment period runs from that receipt date. A narrow reading tied only to the original transfer would make the relief unworkable and defeat the legislative object of encouraging reinvestment in specified assets. On that construction, the assessee qualified for the exemption and the Revenue's objection based on timing was rejected. en-us Tue, 06 Oct 2009 00:00:00 +0530 Fri, 27 Apr 2012 08:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212843 Section 54EA exemption was held applicable to enhanced compensation invested in notified securities within six months of receipt, even though the original compulsory acquisition occurred earlier. The provision was construed purposively alongside section 45(5), so that enhanced compensation is taxed on receipt and the reinvestment period runs from that receipt date. A narrow reading tied only to the original transfer would make the relief unworkable and defeat the legislative object of encouraging reinvestment in specified assets. On that construction, the assessee qualified for the exemption and the Revenue's objection based on timing was rejected. Case-Laws Income Tax Tue, 06 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212843