https://www.taxtmi.com/caselaws?id=355292 The Tribunal upheld the assessee's entitlement to a deduction under Section 54EC of the Income Tax Act for investments made in different financial years within six months, allowing a deduction of Rs. 1 crore. The Tribunal directed a re-examination of the professional fees paid as qualifying expenditure under Section 48, instructing the Assessing Officer to verify the genuineness of the payment and provide an opportunity for the assessee to substantiate the claim with necessary evidence. The appeal of the Revenue was dismissed, while the appeal of the assessee was allowed for statistical purposes. en-us Thu, 14 Dec 2017 00:00:00 +0530 Tue, 13 Feb 2018 06:16:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355292 The Tribunal upheld the assessee's entitlement to a deduction under Section 54EC of the Income Tax Act for investments made in different financial years within six months, allowing a deduction of Rs. 1 crore. The Tribunal directed a re-examination of the professional fees paid as qualifying expenditure under Section 48, instructing the Assessing Officer to verify the genuineness of the payment and provide an opportunity for the assessee to substantiate the claim with necessary evidence. The appeal of the Revenue was dismissed, while the appeal of the assessee was allowed for statistical purposes. Case-Laws Income Tax Thu, 14 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355292