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Capital gain

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11 December 2012 mr a has sold land & registered sale deed on 10 april 2012 and at that time he recieved token amt of rs 5lakh only on 5 dec 2012 he recived entire balance considereation as per agreement clause. He want to invest in capital gain bond if invested on 10 dec 2012 after reciept of consideration amt the exemption u/s 54 ec is available or not
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Amol S Joglekar

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Amol S Joglekar (Expert)
11 December 2012 54EC has always been seen by the courts in a very liberal way. ITO may not look at it so liberally. In your case, therefore, 54EC is very much available as the 6 months' condition is satisfied. A day here and there may not be a material matter.
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