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TMI Blog2017 (1) TMI 58X X X X Extracts X X X X X X X X Extracts X X X X ..... e Deed dated 5th April, 2007 is produced. This itself in clause (d) thereof records the fact that the Agreement to Sale had been entered into on 21st February, 2006 in respect of the subject property and the amounts being received by the vendor (respondent assessee) under that Agreement to Sale. Thus, these amounts when received as advance under an Agreement to Sale of a capital asset are invested ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e - Income Tax Appeal No. 1009 of 2014 - - - Dated:- 14-12-2016 - M. S. Sanklecha And A. K. Menon, JJ. Mr. Vipul Bajpayee for the appellant None for the respondent ORDER P. C. 1. This Appeal under Section 260A of the Income Tax Act, 1961 (the Act) challenges the order dated 28th June, 2013 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order is i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... order of the Tribunal records the fact that an Agreement to Sale for the subject property was entered into on 21st February, 2006. The final sale took place under a Sale Deed dated 5th April, 2007. The respondent assessee had invested an amount of ₹ 50 lakhs from the advance received under the Agreement to Sale in the Rural Electrification Corporation Ltd. bonds on 2nd February, 2007. The As ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orities. Therefore, the respondent assessee is not entitled to the benefit of Section 54EC of the Act. 6. We find that the Sale Deed dated 5th April, 2007 is produced. This itself in clause (d) thereof records the fact that the Agreement to Sale had been entered into on 21st February, 2006 in respect of the subject property and the amounts being received by the vendor (respondent assessee) unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the context of Section 54E of the Act. 7. Mr. Bajpayee, learned Counsel for the Revenue very fairly points out that the Revenue had preferred an appeal against the order of the Tribunal in Bhikulal Chandak HUF (supra) to this Court (Nagpur Bench) being Income Tax Appeal No.68 of 2009. This Court by an order dated 22nd August, 2010 refused to entertain the Revenue's above appeal from the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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