10 October 2011
An assessee holds lakhs of shares of a company and he/she sells the same to its sister concern having the same address and again sells them to another sister concern of the copmany having same address and claim for capital gain. Will he/she is elligible for indexation and whether he/she is elligible for 54EC
11 October 2011
How it is possible sell a same shares for two times 54EC is available for the transfer of Long term capital asset, but you have to invest the capital gain in REC bonds within six months of transfer. Indexation benefit is available, but it is at your option.
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