Sec. 54EC exemption not available on deemed gain calculated u/s. 50C

 IN THE ITAT MUMBAI BENCH ‘B’ Mrs. Nila V. Shah V/s. Commissioner of Income-tax (Appeals), XXV IT APPEAL NO. 3745(MUM.) OF 2008 [ASSESSMENT YEAR 2005-06] MARCH 28, 2012 ORDER Amit Shukla, Judicial Member This appeal has been preferred by the appellant against the order dated 17.03.2008, passed by CIT (Appeals) XXV, Mumbai for the quantum of assessment u/s. 143(3) for the Assessment Year 2005-06. The appellant has raised the following grounds of appeals to challenge the addition confirmed on account of capital gain for a sum amounting to Rs. 3,73,128/-. “1. T...