https://www.taxtmi.com/caselaws?id=400456 The Tribunal allowed the appeals of the assessees, dismissing the stay applications and directing the AO to delete the disallowance amounts made in the hands of the assessees for the assessment year 2008-09. The Tribunal held that the disallowance of the claim made under section 54EC of the Act was unjustified as the assessees did not claim any deduction for that year, and the AO should have assessed long term capital gains in accordance with the reasons for reopening the assessment. en-us Wed, 28 Oct 2020 00:00:00 +0530 Sat, 07 Nov 2020 17:01:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400456 The Tribunal allowed the appeals of the assessees, dismissing the stay applications and directing the AO to delete the disallowance amounts made in the hands of the assessees for the assessment year 2008-09. The Tribunal held that the disallowance of the claim made under section 54EC of the Act was unjustified as the assessees did not claim any deduction for that year, and the AO should have assessed long term capital gains in accordance with the reasons for reopening the assessment. Case-Laws Income Tax Wed, 28 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400456