https://www.taxtmi.com/caselaws?id=239733 The Gujarat High Court upheld the Tribunal's decision, confirming that Section 50's deeming fiction for capital gains computation on depreciable assets does not impact the applicability of Section 54EC deductions. The court agreed that investments in specified bonds qualify for deductions under Section 54EC, irrespective of the depreciation status of the assets. The appeal was dismissed, emphasizing the independent operation of Sections 50 and 54EC in their respective provisions. en-us Mon, 07 Oct 2013 00:00:00 +0530 Tue, 19 Nov 2013 14:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239733 The Gujarat High Court upheld the Tribunal's decision, confirming that Section 50's deeming fiction for capital gains computation on depreciable assets does not impact the applicability of Section 54EC deductions. The court agreed that investments in specified bonds qualify for deductions under Section 54EC, irrespective of the depreciation status of the assets. The appeal was dismissed, emphasizing the independent operation of Sections 50 and 54EC in their respective provisions. Case-Laws Income Tax Mon, 07 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239733