2018 (3) TMI 134

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..... PER S. S. GODARA, JUDICIAL MEMBER This assessee's appeal for assessment year 2011-12, arises against the CIT(A)-13, Ahmedabad's order dated 29.10.2015, in case no. CIT(A)- 13/Ahd/152/2014-15, upholding Assessing Officer's action restricting Section 54EC deduction claim of Rs. 50lacs each invested on 30.11.2010 and 13.04.2011 totaling to Rs. 1crore to Rs. 50lacs only, in proceedings u/s.143(3) .....

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..... eld a co-ordinate bench's decision that such a deduction claim of Rs. 50 lacs each spread over to two financial years but falling within six months of the capital asset's transfer in question is very much allowable. We further take not of the fact that the legislature has inserted second proviso to Section 54EC (1) introducing the above cap on re-investment quantum by the Finance (Act No.2), 2014 .....

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