Section 54EC Exemption Granted for REC Bonds Despite Late Investment Due to Market Unavailability of Bonds.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Exemption u/s 54EC - REC Bonds - investment within six months from the date of transfer of the capital asset - assessee has demonstrated that non–investment in REC Bonds within the stipulated period was due to non–availability of bonds in the market - the delay in investment has to be condoned as the assessee cannot be expected to do or perform an impossible act - exemption allowed....