Karnataka HC Allows Section 54EC Capital Gains Exemption Despite Delay

Dr. (Smt.) Sujatha Ramesh Vs Central Board of Direct Taxes (Karnataka High Court)  The Karnataka High Court ruled in favor of Dr. Sujatha Ramesh, allowing her to claim a capital gains tax exemption under Section 54EC of the Income Tax Act, 1961, despite a six-month delay in investing in infrastructure bonds. The petitioner had sold immovable property in the 2013-14 assessment year and was required to invest the proceeds in eligible bonds within six months to claim the exemption. However, due to her travel to the USA, she missed the deadline and sought a one-time extension from the Central Boa...