Exemption U/s. Sec. 54EA available if initial amount received in kind is eventually invested

HIGH COURT OF KARNATAKA Commissioner of Income-tax, Central Circle versus Smt. Padmavathy IT Appeal No. 1147 of 2006 August 16, 2012 JUDGMENT B. Manohar, J. The Revenue has filed this appeal challenging the order dated 17-04-2006 made in ITA No. 1473/Bang/2003 passed by the Income Tax Appellate Tribunal, Bangalore Bench-B dismissing the appeal and confirming the order dated 11-09-2003 passed by the Commissioner of Income Tax (Appeals), Bangalore (‘CIT (Appeals)’ for short) in ITA No.14/W6(3) CIT(A) III/2002-03 for the assessment year 1999-2000. 2. The respondent-a...