https://www.taxtmi.com/caselaws?id=311423 The Revenue's appeal against the deletion of an addition of Rs. 50 lacs for an excess claim of deduction under Section 54EC for A.Y. 2013-14 was dismissed. The Co-ordinate Bench upheld the decision allowing the assessee to claim a deduction up to Rs. 1 crore, as the statutory amendment limiting the deduction to Rs. 50 lacs was effective only from 01.04.2015, applicable from A.Y. 2015-16. This judgment underscores the applicability of statutory amendments and judicial precedents in tax assessments. en-us Fri, 23 Mar 2018 00:00:00 +0530 Mon, 25 Dec 2023 09:26:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311423 The Revenue's appeal against the deletion of an addition of Rs. 50 lacs for an excess claim of deduction under Section 54EC for A.Y. 2013-14 was dismissed. The Co-ordinate Bench upheld the decision allowing the assessee to claim a deduction up to Rs. 1 crore, as the statutory amendment limiting the deduction to Rs. 50 lacs was effective only from 01.04.2015, applicable from A.Y. 2015-16. This judgment underscores the applicability of statutory amendments and judicial precedents in tax assessments. Case-Laws Income Tax Fri, 23 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311423