Exemption u/s.54EC allowable in respect of gains arising u/s. 50 from transfer of depreciable asset

CA Sandeep Kanoi On appeal before the Ld. CIT(A), it was stated that during the year, the assessee firm has sold the premises for the consideration of Rs 7,55,00,000/- and the working of the capital gains arising there from is given in the computation of total income filed along with the return of income. The capital gain arising there from is Rs 5,77,35,538/- Rs 5,71,50,000/- have been invested in Nabard Capital Gains Bonds to claim the exemption u/s 54. The balance capital gain of Rs 535,538/- has been set off against the carried forward long term capital gain/loss of Rs 5,80,238/- The asses...