Exemption from Capital Gain tax U/s.54EC

For Details of REC 54EC Capital Gain Bonds Click here

For Details of NHAI 54EC Capital Gain Bonds Click here

Originally posted by : Pallavi Kapase
	Please anyone give reference of case in which exemption u/s 54EC is allowed more than Rs. 50 lacs.....

Dear Pallavi,

Ahmedabad Tribunal has ruled in favour of assessee on 30th March 2012.

The case is Aspi Ginwala Vs. ACIT [TS-192-ITAT-2012(Ahd)]

The tribunal has ruled in favour of the assessee saying that proviso to section 54EC does not restrict to make investment to Rs.50 lacs if the eligible period falls between two financial years.

I hope the reply resolves your query.