https://www.taxtmi.com/caselaws?id=239399 HC held that the s50 deeming fiction, which treats gains on sale of depreciable assets as short-term for computation, does not prevent application of s54EC. Where long-term capital asset gains are converted by statutory computation into short-term gains under s50 but the assessee invests the relevant capital gain in specified bonds, the exemption under s54EC is available. Decision favored the assessee and against the Revenue; exemption cannot be denied solely due to s50's deeming provision. en-us Mon, 02 Sep 2013 00:00:00 +0530 Wed, 15 Oct 2025 16:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239399 HC held that the s50 deeming fiction, which treats gains on sale of depreciable assets as short-term for computation, does not prevent application of s54EC. Where long-term capital asset gains are converted by statutory computation into short-term gains under s50 but the assessee invests the relevant capital gain in specified bonds, the exemption under s54EC is available. Decision favored the assessee and against the Revenue; exemption cannot be denied solely due to s50's deeming provision. Case-Laws Income Tax Mon, 02 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239399