https://www.taxtmi.com/caselaws?id=198938 The Tribunal upheld the Commissioner's decision in favor of the assessee in a case involving the interpretation of section 54EC of the Income Tax Act. The dispute revolved around the investment limits and exemptions under the section, particularly whether investing &8377;50 lakhs each in two different financial years was permissible. The Tribunal clarified that as long as the total investment was within six months of the asset transfer and within the prescribed limit, the exemption was valid. The decision emphasized compliance with statutory requirements for claiming tax benefits on capital gains investments and dismissed the Revenue's appeal. en-us Thu, 09 Jun 2016 00:00:00 +0530 Wed, 14 Feb 2018 09:37:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198938 The Tribunal upheld the Commissioner's decision in favor of the assessee in a case involving the interpretation of section 54EC of the Income Tax Act. The dispute revolved around the investment limits and exemptions under the section, particularly whether investing &8377;50 lakhs each in two different financial years was permissible. The Tribunal clarified that as long as the total investment was within six months of the asset transfer and within the prescribed limit, the exemption was valid. The decision emphasized compliance with statutory requirements for claiming tax benefits on capital gains investments and dismissed the Revenue's appeal. Case-Laws Income Tax Thu, 09 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198938