Section 54EC eligible on Investment in specified bonds out of advance payment

Issue- The short question that arises for our consideration in this appeal is whether an amount received on sale of a capital assetas an advance on the basis of Agreement to Sale and the same being invested in specified bonds before the final sale,would entitle the respondent assessee to the benefit of Section 54EC of the Act. The impugned order of the Tribunal records the fact that an Agreement to Sale for the subject property was entered into on 21st February, 2006. The final sale took place under a Sale Deed dated 5th April,2007. The respondent assessee had invested an amount of Rs. 50 la...