https://www.taxtmi.com/caselaws?id=2468 Section 54E exemption was available where compensation for compulsory acquisition was received in a later previous year and invested within the prescribed period after receipt. Section 45(5) was treated as clarificatory and applied retrospectively for determining when capital gains arose, because in compulsory acquisition cases the assessee could not make the specified investment until compensation was actually received. As section 54E was in force when the compensation was received, the exemption could not be denied. en-us Mon, 14 May 2007 00:00:00 +0530 Mon, 25 Aug 2008 18:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2468 Section 54E exemption was available where compensation for compulsory acquisition was received in a later previous year and invested within the prescribed period after receipt. Section 45(5) was treated as clarificatory and applied retrospectively for determining when capital gains arose, because in compulsory acquisition cases the assessee could not make the specified investment until compensation was actually received. As section 54E was in force when the compensation was received, the exemption could not be denied. Case-Laws Income Tax Mon, 14 May 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2468