https://www.taxtmi.com/caselaws?id=242261 The ITAT allowed the appeal, granting the exemption claim of Rs. 1 Crore under Section 54EC of the Income-tax Act, 1961. The restriction imposed by the CIT(Appeals) limiting the claim to Rs. 50 lakhs was overturned. ITAT held that the restriction of Rs. 50 lakhs applied per financial year, allowing the appellant's exemption claim as the investments were made within the specified time frame but in different financial years. en-us Thu, 31 Jan 2013 00:00:00 +0530 Sat, 11 Jan 2014 05:30:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242261 The ITAT allowed the appeal, granting the exemption claim of Rs. 1 Crore under Section 54EC of the Income-tax Act, 1961. The restriction imposed by the CIT(Appeals) limiting the claim to Rs. 50 lakhs was overturned. ITAT held that the restriction of Rs. 50 lakhs applied per financial year, allowing the appellant's exemption claim as the investments were made within the specified time frame but in different financial years. Case-Laws Income Tax Thu, 31 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242261