Case Law Details
Case Name : M/s. Chakrabarty Medical Centre Vs TRO (ITAT Pune)
Related Assessment Year : 2008-09
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Issue- Whether the assessee firm can get the benefit of Sec. 54EC, even though an investment in respect of capital gain is made by the two partners individually in the notified securities e. bonds issued by the Rural Electrification Corporation Ltd. (RECL)?
The sale consideration received on the sale of hospital building and land was directly credited to the Bank accounts of the two partners i.e. Dr. Mrinmay Chakrabarty and Dr. (Mrs.) Neela Chakrabarty and there is no dispute about this fact. Both the partners made the investment in the notified bonds in terms of Sec. 54EC of the Income-tax Ac...
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It is very useful article giving all facts regarding contribution u/s 54EC