https://www.taxtmi.com/caselaws?id=336978 The High Court upheld the Tribunal's decision regarding an appeal challenging an order related to Assessment Year 2008-09 under the Income Tax Act. It was determined that the assessee is entitled to deduction under Section 54EC, even though the investment in specified bonds was made before the final sale of the property. The Court emphasized that when advance amounts under an Agreement to Sale are invested in specified bonds, the benefit of Section 54EC applies, supported by previous judgments and a CBDT Circular. The appeal was dismissed without costs, as it did not raise any substantial question of law. en-us Wed, 14 Dec 2016 00:00:00 +0530 Sun, 01 Jan 2017 14:19:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336978 The High Court upheld the Tribunal's decision regarding an appeal challenging an order related to Assessment Year 2008-09 under the Income Tax Act. It was determined that the assessee is entitled to deduction under Section 54EC, even though the investment in specified bonds was made before the final sale of the property. The Court emphasized that when advance amounts under an Agreement to Sale are invested in specified bonds, the benefit of Section 54EC applies, supported by previous judgments and a CBDT Circular. The appeal was dismissed without costs, as it did not raise any substantial question of law. Case-Laws Income Tax Wed, 14 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336978