https://www.taxtmi.com/caselaws?id=356431 The Tribunal allowed the assessee's appeal regarding the Section 54EC deduction claim for investments in NHAI bonds for the assessment year 2011-12. Despite the statutory cap of Rs. 50 lakhs on reinvestment amounts, the Tribunal ruled in favor of the assessee, citing a judgment from the Hon'ble Madras High Court. The Tribunal clarified that the cap introduced through a legislative amendment did not apply retrospectively to the relevant assessment year, allowing deduction claims of Rs. 50 lakhs each spread over two financial years within six months of the asset's transfer. en-us Mon, 08 Jan 2018 00:00:00 +0530 Tue, 06 Mar 2018 06:34:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356431 The Tribunal allowed the assessee's appeal regarding the Section 54EC deduction claim for investments in NHAI bonds for the assessment year 2011-12. Despite the statutory cap of Rs. 50 lakhs on reinvestment amounts, the Tribunal ruled in favor of the assessee, citing a judgment from the Hon'ble Madras High Court. The Tribunal clarified that the cap introduced through a legislative amendment did not apply retrospectively to the relevant assessment year, allowing deduction claims of Rs. 50 lakhs each spread over two financial years within six months of the asset's transfer. Case-Laws Income Tax Mon, 08 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356431