Sections 54 and 54EC of Income Tax Act Don't Apply to Short-Term Capital Gains from Asset Transfers.

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....The provisions of sections 54 and 54EC of the Act are applicable only in respect of gain arising from transfer of long-term capital asset. In this case, the gain arose from the transfer was short-term capital gain. Therefore, the provisions of sections 54EC and 54 are not applicable at all. - AT....