S. 54EC limit of Rs. 50L applies to transaction & not financial year

ACIT Vs Shri Raj Kumar Jain & Sons (HUF) (ITAT Jaipur) S. 54EC investment within 6 months is the investment for that financial year in which transfer has taken place S. 54EC investment within 6 months is the investment for that financial year in which transfer has taken place. Hence, subsequent investment is to be considered as part of the investment of financial year in which transfer has taken place. Assessee sold a property on 13-12-2007 and disclosed capital gain – Assessee invested said capital gain amounting to Rs. 1 crore in specified capital gain bond (i.e., Rs. 50 lakhs on 3...