https://www.taxtmi.com/caselaws?id=328770 The Tribunal allowed the appeal of the assessee, overturning the decision of the Commissioner of Income Tax (Appeals) and directing the Assessing Officer to delete the addition. The Tribunal held that investments in REC bonds within the specified time frame under Sec.54EC of the Income Tax Act were valid, emphasizing compliance with legislative intent and relevant case law. The Tribunal concluded that the subsequent amendment restricted investments to Rs. 50,00,000 in one financial year only, thereby ruling in favor of the assessee. en-us Wed, 27 Apr 2016 00:00:00 +0530 Tue, 14 Jun 2016 12:56:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328770 The Tribunal allowed the appeal of the assessee, overturning the decision of the Commissioner of Income Tax (Appeals) and directing the Assessing Officer to delete the addition. The Tribunal held that investments in REC bonds within the specified time frame under Sec.54EC of the Income Tax Act were valid, emphasizing compliance with legislative intent and relevant case law. The Tribunal concluded that the subsequent amendment restricted investments to Rs. 50,00,000 in one financial year only, thereby ruling in favor of the assessee. Case-Laws Income Tax Wed, 27 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328770