9911796707
TMI Blog2024 (2) TMI 1163X X X X Extracts X X X X X X X X Extracts X X X X ..... AO in the absence of return filed by the assessee has disallowed the exemption claimed - HELD THAT:- As perused the provisions of section 54EC of the Act r.w.s. 139(1) of the Act and note that it has nowhere been provided that for claiming exemption u/s 54EC of the Act, the assessee has to file the return of income. Even at the time of hearing the Ld. DR has not brought our attention to such pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mmissioner of Income Tax (Appeals), Ahmedabad, arising in the matter of assessment order passed under s. 147 r.w.s. 144 of the Income Tax Act, 1961 (here-in-after referred to as the Act ) relevant to the Assessment Year 2013-14. 2. The only grievance raised by the assessee is that the Ld. CIT(A) erred in confirming the disallowance of exemption claimed by the assessee u/s 54EC of the Act for R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 4. Aggrieved assessee preferred an appeal to the Ld. CIT(A), who has also confirmed the order of the AO by observing as under: Since the claim was not made for seeking exemption u/s. 54EC in the ITR, the benefit of exemption u/s. 54 EC is held to be rightly denied by the AO. Under the given situation. Hence the addition made by AO is sustained. However, the AO is directed to consider reas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d be allowed the benefit of exemption u/s 54EC of the Act. 7. On the other hand, the Ld. DR vehemently supported the order of the authorities below. 8. We have heard the rival contentions of both the parties and perused the materials available on record. The facts in present case are not in dispute which have been elaborated in the preceding paragraph and therefore for the sake of convenienc ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
