S. 54EC relief available if cheque issued within 6 months of transfer even if cheque cleared, and bonds issued, after 6 months-Mumbai ITAT

0 comments Friday, March 4, 2011
Mumbai ITAT has held in an important case namely Kumarpal Amrutlal Doshi vs. DCIT (ITAT Mumbai)
 that relief u/s 54EC shall be available even if the bonds are issued after the requisite period of  6 months for investment, if the cheque is issued within the period of 6 months but cheque is encashed after the requisite period and bonds are also issued after the requisite period of 6 months.

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