SHRI BALKRISHNA P.TRIVEDI,HUF,AHMEDABAD vs. THE CIT-III,, AHMEDABAD

In the result, appeal filed by the Revenue in ITA No

Bench: Shri Pradip Kumar Kedia & Smt. Madhumita Roy

54E, the same should be applied to investment u/s. 54EC of the Act as the provisions of both the sections are same. It is further submitted that on perusal of provisions u/s. 54EC of the Act and circular it is clarified that the Appellant has fulfilled all the conditions of Section 54EC i.e. within 6 months (i.e. 08.06.2007) of transfer

THE ACIT, CIRCLE-2,, AHMEDABAD vs. SHRI BHARATBHAI MADHAVLAL PATEL,, AHMEDABAD

In the result, appeal of the revenue is dismissed

gains arising from the transfer of a capital asset effected in the previous year shall, save or otherwise provided in sections 54, 54B, 54D, 54E

SHITAL PIYUSHKUMAR PATEL,ANAND vs. THE ITO, WARD-4, ANAND

In the result, the appeal of the assessee is allowed

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

CAPITAL GAINS – EXEMPTION OF, IN CASE OF INVESTMENT IN RESIDENTIAL HOUSE – ASSESSEE INVESTING EARNEST MONEY IN SPECIFIED ASSETS BEFORE DATE OF TRANSFER – WHETHER AMOUNT SO INVESTED QUALIFIES FOR EXEMPTION CIRCULAR : NO. 359 [F. NO. 207/8/82-IT(A-II)], DATED 10-5-1983 1. Section 54E

GAYATRI B SHAH,,BARODA vs. INCOME TAX OFFICER, WARD-1(2)(1), BARODA

In the result, the appeal is allowed

Bench: Shri Pramod Kumar] Assessment Year : 2008-09

gains were computed at NIL. However, the Assessing Officer declined the exemption under Section 54EC in respect of qualifying investment of Rs.25,00,000/- on the ground that the said investment was made on 31.03.2007, i.e. prior to the sale of capital asset in question. Aggrieved, assessee carried the matter in appeal before the CIT(A) and contended that