https://www.taxtmi.com/caselaws?id=290241 The Tribunal allowed the appeal, applying the Doctrine of supervening impossibility to excuse the delay in investing in REC bonds beyond the statutory limit under sec.54EC. Despite the technical non-compliance, the Tribunal considered the senior citizen assessee's health issues post-sale, deeming the 59-day delay reasonable. It directed the assessing authority to grant the exemption under sec.54EC, ordering a refund if applicable within 45 days. The decision highlights the significance of assessing cases on a case-by-case basis and applying legal principles sensibly, even in instances of statutory timeframe breaches. en-us Wed, 18 Jun 2014 00:00:00 +0530 Wed, 16 Sep 2020 11:09:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290241 The Tribunal allowed the appeal, applying the Doctrine of supervening impossibility to excuse the delay in investing in REC bonds beyond the statutory limit under sec.54EC. Despite the technical non-compliance, the Tribunal considered the senior citizen assessee's health issues post-sale, deeming the 59-day delay reasonable. It directed the assessing authority to grant the exemption under sec.54EC, ordering a refund if applicable within 45 days. The decision highlights the significance of assessing cases on a case-by-case basis and applying legal principles sensibly, even in instances of statutory timeframe breaches. Case-Laws Income Tax Wed, 18 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290241