Section 54EC clearly states that the investment in specified bonds is to be made “within a period 6 months after the date of such transfer”, the
intention of the legislature is clear. Had the legislature wanted to
give liberty to the assessee to invest before or after the date of
transfer, they would have explicitly said so, as has been provided in
section 54 & 54F of the Act. Since such specific words are not used
in section 54EC, deduction cannot be allowed to the assessee. [Smt. Dakshaben R. Patel vs ACIT [2012] 22 taxmann.com 237 (Ahd.-ITAT)]
full FAQ available on http://taxguru.in/income-tax/exemption-section-54-54ec-54f-faqs-case-laws.html
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