https://www.taxtmi.com/caselaws?id=304881 Section 54G exemption applies only where capital gains arise from transfer of assets used for an industrial undertaking situated in an urban area declared for that purpose by the Central Government. A notification declaring Anekal as an urban area was issued only on 27.04.2006 and could not be applied retrospectively. Notifications issued under section 280Y(d) and under sections 2(1A) and 2(14) served different statutory purposes and could not be imported to support a claim under section 54G. The exemption claim was therefore not available on the facts stated. en-us Fri, 27 Feb 2015 00:00:00 +0530 Fri, 20 Dec 2024 11:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304881 Section 54G exemption applies only where capital gains arise from transfer of assets used for an industrial undertaking situated in an urban area declared for that purpose by the Central Government. A notification declaring Anekal as an urban area was issued only on 27.04.2006 and could not be applied retrospectively. Notifications issued under section 280Y(d) and under sections 2(1A) and 2(14) served different statutory purposes and could not be imported to support a claim under section 54G. The exemption claim was therefore not available on the facts stated. Case-Laws Income Tax Fri, 27 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304881