https://www.taxtmi.com/caselaws?id=348342 The appeal was filed against the order of the CIT(A)-12, Mumbai, concerning the interpretation of Section 54EC for AY 2011-12. The appellant contested the CIT(A)'s decision to restrict the exemption under Section 54EC to Rs. 50 lakhs, arguing that the limit of investment should not be restricted to a particular transaction but should apply to a financial year. The Tribunal concluded that the appellant is entitled to exemption for the total investment made within the stipulated period. Consequently, the AO was directed to allow exemption under Section 54EC for the entire investment amount made by the assessee. en-us Fri, 15 Sep 2017 00:00:00 +0530 Wed, 20 Sep 2017 11:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348342 The appeal was filed against the order of the CIT(A)-12, Mumbai, concerning the interpretation of Section 54EC for AY 2011-12. The appellant contested the CIT(A)'s decision to restrict the exemption under Section 54EC to Rs. 50 lakhs, arguing that the limit of investment should not be restricted to a particular transaction but should apply to a financial year. The Tribunal concluded that the appellant is entitled to exemption for the total investment made within the stipulated period. Consequently, the AO was directed to allow exemption under Section 54EC for the entire investment amount made by the assessee. Case-Laws Income Tax Fri, 15 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348342