https://www.taxtmi.com/caselaws?id=250122 The High Court ruled in favor of the appellant in a case concerning the interpretation of Section 54EC of the Income Tax Act for capital gains exemption. The Court held that the delayed investment in REC Bonds was justified due to the unavailability of bonds within the stipulated time frame. Emphasizing that statutory benefits should not be denied due to unforeseen circumstances, the Court dismissed the appeal and upheld the Tribunal's decision, ensuring that the assessee's right to invest within the prescribed period was not unfairly impacted by external factors. en-us Mon, 14 Jul 2014 00:00:00 +0530 Mon, 04 Aug 2014 12:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250122 The High Court ruled in favor of the appellant in a case concerning the interpretation of Section 54EC of the Income Tax Act for capital gains exemption. The Court held that the delayed investment in REC Bonds was justified due to the unavailability of bonds within the stipulated time frame. Emphasizing that statutory benefits should not be denied due to unforeseen circumstances, the Court dismissed the appeal and upheld the Tribunal's decision, ensuring that the assessee's right to invest within the prescribed period was not unfairly impacted by external factors. Case-Laws Income Tax Mon, 14 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250122