https://www.taxtmi.com/caselaws?id=251469 The Tribunal allowed the appeal, overturning the decision of the lower authorities and directing the Assessing Officer to grant the exemption of Rs. 1 crore under Section 54EC. The Tribunal clarified that the proviso to Section 54EC limits the investment in eligible bonds to Rs. 50 lakhs per financial year but does not cap the total exemption at Rs. 50 lakhs if investments are made in different financial years within the specified six-month period. The Tribunal emphasized compliance with the financial year limits and the permissible investment period. en-us Fri, 05 Sep 2014 00:00:00 +0530 Mon, 15 Sep 2014 09:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251469 The Tribunal allowed the appeal, overturning the decision of the lower authorities and directing the Assessing Officer to grant the exemption of Rs. 1 crore under Section 54EC. The Tribunal clarified that the proviso to Section 54EC limits the investment in eligible bonds to Rs. 50 lakhs per financial year but does not cap the total exemption at Rs. 50 lakhs if investments are made in different financial years within the specified six-month period. The Tribunal emphasized compliance with the financial year limits and the permissible investment period. Case-Laws Income Tax Fri, 05 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251469