https://www.taxtmi.com/caselaws?id=398371 The Tribunal allowed the appeal, permitting the deduction of Rs. 71 lakhs under section 54EC of the Income Tax Act. The Tribunal ruled that the assessee's investments in NHAI bonds totaling Rs. 71 lakhs, made in two different financial years within the specified time frame from the date of asset transfer, were eligible for the deduction. The decision emphasized that the limit of Rs. 50 lakhs for claiming the deduction under section 54EC is applicable per financial year, and the amendment introduced in the Finance Act 2014 applies prospectively from the assessment year 2015-16. en-us Fri, 11 Sep 2020 00:00:00 +0530 Mon, 14 Sep 2020 09:47:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398371 The Tribunal allowed the appeal, permitting the deduction of Rs. 71 lakhs under section 54EC of the Income Tax Act. The Tribunal ruled that the assessee's investments in NHAI bonds totaling Rs. 71 lakhs, made in two different financial years within the specified time frame from the date of asset transfer, were eligible for the deduction. The decision emphasized that the limit of Rs. 50 lakhs for claiming the deduction under section 54EC is applicable per financial year, and the amendment introduced in the Finance Act 2014 applies prospectively from the assessment year 2015-16. Case-Laws Income Tax Fri, 11 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398371