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Whether deduction u/s 54ec is available or not ?

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(Querist)
30 October 2012 one of my assessee has sold a long term capital asset, and sale proceed has invested in capital gain scheme account,However, he could not utilized a sum of Rs. 65Lakh, now he will have to offer this amount as long term capital gain. Now question is whether the assessee can claim deduction u/s 54EC against this long term capital gain by investing a sum of Rs. 50lakh in specified bonds.

Please advice!
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Prakash Kochar

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Prakash Kochar (Expert)
01 November 2012 Assessee has to invest amount in bond within stipulated time from date of transfer/sale of asset for claim u/s. 54EC.
Hence not eligible for claim u/s. 54EC.
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