2018 (3) TMI 2021

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....Sr. D.R. For the Respondent : Shri Parin Shah Adv. ORDER PER N.K. BILLAIYA, ACCOUNTANT MEMBER: 1. This appeal by the Revenue is preferred against the order of the Ld. CIT(A)-3, Ahmedabad dated 13.06.2016 pertaining to A.Y. 2013-14. 2. The only grievance of the revenue is that the ld. CIT(A) erred in deleting the addition of Rs. 50 lacs made on account of excess claim of deduction u/....

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....but only with effect from 01.04.2015 and subsequent years and therefore not applicable for the year under consideration. 6. Drawing support from various judicial decisions, the ld. CIT(A) directed the A.O. to allow the claim of deduction in respect of investment in bonds to the tune of Rs. 50 lacs. 7. Aggrieved by this, the revenue is before us. The ld. D.R. could not bring any factual or le....

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....revented by sufficient cause from investing within the lime period of 6 months. The Assessing Officer & CIT(A) rejected the claim for exemption of Rs. 50 lakhs in respect of the NHAI bonds on the ground that (i) it exceeded the monetary limit of Rs. 50 lakhs prescribed in section 54EC ad (ii) it was made beyond the time limit of 6 months. On appeal to the Tribunal, held allowing the appea....