Case Law Details
Case Name : ACIT Nagpur Vs Shri Kamlakar Moghe (Bombay High Court, Nagpur)
Appeal Number : Income Tax Appeal No. 104 OF 2013
Date of Judgement/Order : 04/09/2015
Related Assessment Year :
Courts :
All High Courts Bombay High Court
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Brief about the case
In the case of ACIT Vs Shri Kamlakar Moghe it was held by Nagpur Bench of Bombay HC that deduction u/s 54EC can be claimed by the assessee despite making the investment in REC bonds beyond six months if the delay was due to non-availability of the REC Bonds.
High Court Further held that amount paid to sisters for creating better title over the property and to sell the property peacefully is alloowable expenditure U/s. 48(1) in calculation of Capital Gain on Sale of Property.
Facts of the case:
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