https://www.taxtmi.com/caselaws?id=424567 The Tribunal allowed the Assessee's appeal, overturning the denial of exemption under section 54EC of the Income-tax Act, 1961. The decision focused on interpreting "six months" as "six calendar months" for investing in bonds, emphasizing adherence to legislative intent and previous Mumbai Tribunal judgments. The Tribunal held that investment within 'six calendar months' from the date of transfer entitled the Assessee to the exemption, highlighting the beneficial nature of section 54EC to promote investments in government bonds. en-us Thu, 30 Jun 2022 00:00:00 +0530 Mon, 04 Jul 2022 09:08:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424567 The Tribunal allowed the Assessee's appeal, overturning the denial of exemption under section 54EC of the Income-tax Act, 1961. The decision focused on interpreting "six months" as "six calendar months" for investing in bonds, emphasizing adherence to legislative intent and previous Mumbai Tribunal judgments. The Tribunal held that investment within 'six calendar months' from the date of transfer entitled the Assessee to the exemption, highlighting the beneficial nature of section 54EC to promote investments in government bonds. Case-Laws Income Tax Thu, 30 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424567