2018 (10) TMI 1231 - SCH - Income Tax

Revision u/s 263 - denial of exemption granted by the AO u/s 54EC and 54F towards investments in capital gains by way of purchasing bonds and residential property, as those investments were made beyond the time limit specified under the aforementioned provisions - Held that - The Special Leave Petition is dismissed on the ground of low tax effect. The question of law is kept open. Pending application stands disposed of.

Summary

The Supreme Court dismissed the Special Leave Petition due to low tax effect but kept the question of law open. Delay was condoned and the pending application was disposed of.