https://www.taxtmi.com/caselaws?id=186083 The appeal filed by the Revenue challenging the order of CIT(A)-2, Nashik, regarding the allowability of deduction under section 54EC of the Income-tax Act in excess of Rs. 50 lakhs if investment is made in two financial years was dismissed. The CIT(A) allowed the claim, emphasizing that the investment limit of Rs. 50 lakhs applies per financial year and investments made in two different financial years within the six-month period, totaling Rs. 1 crore, are eligible for deduction. The judgment upheld the CIT(A)'s decision, emphasizing adherence to statutory provisions and judicial precedents in determining eligibility for deductions under the Income-tax Act. en-us Thu, 30 Jun 2016 00:00:00 +0530 Wed, 07 Sep 2016 10:23:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186083 The appeal filed by the Revenue challenging the order of CIT(A)-2, Nashik, regarding the allowability of deduction under section 54EC of the Income-tax Act in excess of Rs. 50 lakhs if investment is made in two financial years was dismissed. The CIT(A) allowed the claim, emphasizing that the investment limit of Rs. 50 lakhs applies per financial year and investments made in two different financial years within the six-month period, totaling Rs. 1 crore, are eligible for deduction. The judgment upheld the CIT(A)'s decision, emphasizing adherence to statutory provisions and judicial precedents in determining eligibility for deductions under the Income-tax Act. Case-Laws Income Tax Thu, 30 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186083