2019 (1) TMI 881

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....is appeal by the assessee is directed against the order of the learned Commissioner of Income Tax (Appeals)- 2 Panaji, pertaining to assessment year 2013- 14. 2. The grounds of appeal read as under: 1. The Assessing Officer and Commissioner of Income Tax (Appeals) were not justified in disallowing exemption u/s. 54EC contending that the investment in REC Bonds is made beyond the stipul....

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.... land by executing an agreement to sell on 04.09.2012. It was submitted by the assessee before the AO as well as during appellate proceedings that the rights in the property were transferred on execution of agreement to sell on 04.09.2012. As per section 54EC, the assessee gets 6 months' time to invest in the eligible bonds. Accordingly, the assessee should have invested the proceeds of LTCG i....

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....hould be condoned. However, the ld. CIT(A) did not agreed with the assessee's contention and upheld the A.O.'s action. 5. Against the above order, the assessee is in appeal before us. 6. We have heard the ld. Departmental Representative. None appeared on behalf of the assessee. In our considered opinion, the issues raised can be adjudicated by hearing the ld. Departmental Representative and ....