Fixed deposit cannot be considered as deposit in capital gain bond to claim exemption U/s. 54EC

IN THE ITAT COCHIN BENCH R. Vidhyadharan Versus Deputy Commissioner of Income-tax IT APPEAL NOS. 606 (COCH.) OF 2011 & 131 (COCH.) OF 2012 [ASSESSMENT YEAR 2008-09] DECEMBER 21, 2012 ORDER N.R.S. Ganesan, Judicial Member Both the appeals of the two independent taxpayers are directed against the independent orders of the Commissioner of Income-tax(A)-III, Kochi dated 27-10-2011 and 30-04-2012 respectively for the assessment year 2008-09. 2. The first issue arises for consideration is the fair market value as on 01-04-1981 for the purpose of computation of capital gain. Shri...