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“section 54EC bonds”

Capital GainsSection 54ECSection 54EC2 judgments

The decision most relied on for section 54EC bonds is CIT v. C. Jaichander (370 ITR 579), cited in 35 judgments on BharatTax.

Leading authorities on section 54EC bonds

CIT v. C. Jaichander
370 ITR 579 · 2015 · High Court
35
citing judgments

An assessee is eligible for deduction under section 54EC even if the investment of capital gains is made in two different financial years, provided the investment is within six months from the date of transfer of the capital asset.

CIT v. Coromandel Industries Ltd.
370 ITR 586 · 2015 · High Court
27
citing judgments

Investment in bonds for Section 54EC deduction made within six months from the date of transfer of the original asset is considered proper, even if made in different financial years.

Dr. (Smt.) Sujatha Ramesh v. CBDT
401 ITR 242 · 2018 · High Court
10
citing judgments

A delay in investing in Section 54EC bonds can be condoned, and the deduction shall not be disallowed, particularly when the bonds were unavailable in the market within the prescribed period from the date of transfer. The Assessing Officer is directed to verify the facts and allow the deduction under Section 54EC.

Judgments citing section 54EC bonds

Anil Shankar Palewar, Nagpur vs. Income Tax Officer, Ward-5(1), Nagpur

In the result, appeal of the assessee is allowed

ITA 36/NAG/2022[2015-16]Status: DisposedITAT Nagpur31 Oct 2023AY 2015-16

Bench: Shri Satbeer Singh Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.36/Nag/2022 िनधा"रण वष" / Assessment Year : 2015-16 Anil Shankar Palewar, The Income Tax Officer, Plot No.219, Suyog Nagar, V Ward-5(1), Nagpur. Nagpur – 440015. S Pan: Abzpp 8221 A Appellant / Assessee Respondent / Revenue Assessee By Shri Kapil Hirani – Ar Revenue By Smt. Rashmi Mathur – Sr.Dr Date Of Hearing 26/10/2023 Date Of Pronouncement 31/10/2023 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Is Filed Against The Order Of Ld. Commissioner Of Income Tax[Nfac], Delhi Dated 26.12.2021Under Section 250 Of The Act, 1961 For The Assessment Year 2015-16. The Assessee Has Raised Following Grounds Of Appeal : “1) On The Facts & Circumstances Of The Case & In Law, The Ld. Ao Grossly Erred In Disallowing & The Ld. Cit(A) Nfac, Delhi Grossly Erred In Confirming The Denial Of Benefit Of Exemption Under Section 54Ec Of The Income Tax Act, 1961 As Claimed By The Appellant In His Return Of Income. The Exemption Under Section 54Ec Anil Shankar Palewar [A]

Section 250Section 54ESection 54F

which is accepted by the AO and is undisputed. 5) The Appellant invested an amount of Rs. 45,00,000 under section 54EC Bonds and claimed exemption under section 54EC of the Act. The amount invested is as under: Sr.No Date Amount

Renu Ratnakar Bhattacharya, Mumbai vs. CIT (A), NFAC, Delhi

ITA 2146/MUM/2022[2016-17]Status: DisposedITAT Mumbai15 Dec 2022AY 2016-17

Bench: Shri Kuldip Singhassessment Year: 2016-17

For Appellant: Ms. Meena Mehta, A.RFor Respondent: Shri Krishna Kumar, D.R
Section 143(3)Section 54Section 54E

comes to Rs.4,26,00,000/-. It is also not in dispute that the assessee claimed deduction in respect of investment made under section 54EC bonds to the tune of Rs.50,00,000/- and has also made investment under section 54 of the Act by purchasing house property