The Central Board of Direct Taxes (CBDT) today notified that Bonds of Indian Railway Finance Corporation will be exempted from Income Tax under section 54EC of the Income Tax Act, 1961. The Notification stated that

The Securities Exchange Board of India (SEBI) vide notification No. SEBI/LAD-NRO/GN/2023/151 issued on 20th September 2023 has notified the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Fourth Amendment) Regulations, 2023. A

The Chandigarh Bench of Income Tax Appellate Tribunal (ITAT) has re-adjudication observing that the sanction by Principal Commissioner of Income Tax (PCIT) for the reassessment under Section 147 of the Income Tax Act 1961 was

The division bench of the Madras High Court, in a recent decision, held that the assessee cannot be denied the benefit provided under s. 54EC of the Income Tax Act, 1961 solely on ground that

The Mumbai Bench of the Income Tax Appellate Tribunal has recently observed that it is immaterial whether the corresponding gain is a short term capital gain by virtue of deeming fiction under section 50 of

While granting the deduction claim under Section 54EC of the Income Tax Act to a Chartered Accountants Firm, the Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the sale of client

In the case of Jitender Singh Marvaha vs. D.DI.T, the Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held that the number of sale proceeds of the property seized by Income Tax Department

A division bench of the Mumbai ITAT, on Monday, allowed a claim under section 54EC of the Income Tax Act, 1961 for making investment in RECL Bonds of Rs.50,00,000/- each in 2 financial years. Coming

In a recent ruling, the ITAT, Kolkata held that deduction under section 54EC of the Income Tax Act must be allowed on the basis of actual sale consideration received by the assessee. The bench further

The Central Board of Direct Taxes (CBDT) has notified that the Capital Gain exemption under section 54EC of the Income Tax Act is applicable to bonds issued by Power Finance Corporation Ltd also. Section 54EC of

The Income Tax Appellate Tribunal (ITAT), Mumbai bench, held that the proposed addition made under Section 50C of the Income Tax Act, 1961, concerning Long-Term Capital Gain, could only be processed under Section 143(3) of

The division bench of the Bombay High Court in the case CIT v. Subhash Vinayak Supnekar held that the assessee, who had received advance amount on investment in specified bonds are eligible for the benefit

The division bench of the Mumbai Income Tax Appellate Tribunal (ITAT), in Lemes E. D’ Souza v. ITO, held that benefit of Investing in NHAI/REC Bonds under section 54EC of the Income Tax cannot be

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that exemption under Section 54EC of the Income Tax Act, 1961 shall not be allowed when the investment has not been made during the

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) confirmed penalty as there was showing less Long Term Capital Gain (LTCG) by making false claim under Section 54EC without making investment. During the course