Sec 54EC exemption on advance invested before Final Sale?

Advocate Akhilesh Kumar Sah Where An Assessee Makes Investment In The Specified Bonds On Receipt Of Advance As Per An Agreement To Sale, Whether He Is Entitled To Claim The Benefit Under Section 54EC Of The Income Tax Act, 1961? Yes Section 54EC of the Income Tax Act, 1961(for short ‘the Act’), according to its conditions, exempts capital gains from taxation in case of investment in specified bonds therein. Recently, in CIT-II, Pune vs. Subhash Vinayak Supnekar [ITA No. 1009 of 2014, decided on 14.12.2016],the short question that arose for consideration before Bombay High Court was whethe...