Arun Kumar B M , Bangalore vs. Income Tax Officer Ward-5(3)(5), Bangalore

Author
View profile
Last updated: 06 November 2020
Quick Summary
This case involves an appeal by Sri Arun Kumar B M concerning a deduction claimed under Section 54EC of the Income Tax Act. The assessee had invested Rs 1 crore in REC bonds to offset capital gains from selling a plot of land. However, the Assessing Officer and the CIT(A) restricted the deduction to Rs 50 lakh, citing investment limits per financial year and amendments to the Act. The Tribunal has recalled its earlier order to reconsider the Section 54EC deduction.

Court :
ITAT Bangalore

Brief :
This appeal was originally disposed of by the ITAT vide its order dated 19.02.2020. However, the assessee filed M.A.No.74/Bang/2020 to recall the Tribunal order, insofar as the issue regarding to deduction u/s 54EC of the I.T.Act. The Tribunal vide its order dated 21.08.2020 in MA No.74/Bang/2020, recalled its earlier order dated 19.02.2020, insofar as the issue concerning deduction under section 54EC of the I.T.Act. Accordingly, this case was heard today, i.e., on 03.11.2020

Citation :
ITA No.667/Bang/2017

Daily Limit Reached

You have reached your daily limit of 2 Free Judgements

Subscribe to CCI PRO for unlimited access

Why Upgrade to CCI PRO?
  • No Ads
  • WhatsApp Community
  • Daily E-Newsletter
  • Unlimited Judgements Access
  • Profile Visitors
  • Link Social Profiles
  • Featured Job Posts
  • Pro Badge
  • Expert GST Guidance
  • Unlimited Forum Replies
  • Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)

2 Years PLAN
3499
(Excl. of GST ₹629)

BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)

View all CCI PRO benefits

Already a PRO member? Login here for an ad-free experience. 07941056694

 
downloaded 223 times


Guest

Judgement posted by

Guest

View Judgements
Comments


Recent Judgments :

  1. No Fresh Pre-Deposit for GSTAT Appeal When Earlier Deposit Already Covers 20% of Disputed Tax
  2. CESTAT: Service Tax Demand Based Solely on ITR Data Unsustainable; 40% Valuation Applicable to Original Works Contract
  3. CESTAT: Renting Vehicles on Per-Trip Basis Not Taxable as Supply of Tangible Goods
  4. CESTAT Denies Refund of Ocean Freight Service Tax Claim Filed Beyond Limitation
  5. CESTAT Quashes Service Tax Demand Based Merely on Form 26AS; Renting of Residential Hostel Held Non-Taxable
  6. CESTAT: Rajasthan Sales Tax Subsidy under RIPS 2010 Not includible in Excise Assessable Value
  7. CESTAT: Late Payment Charges in the Nature of Interest Not Taxable as Declared Service
  8. CESTAT: Educational Services Exempt Under Section 66D; Extended Period Cannot Be Invoked Without Wilful Suppression
  9. CESTAT: No Service Tax on Royalty under RCM if Mining Lease Was Executed Before 1 April 2016
  10. No pre-deposit required for filing appeal before the GSTAT against penalty-only orders where proceedings commenced prior to October 01 2025

View More Judgments »


Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Pro Member Ashish AgrawalAshish AgrawalPro Member adarsh chaturvediadarsh chaturvediPro Member S D KannanS D KannanPro Member Ashutosh PurohitAshutosh PurohitPro Member Prashant KotechaPrashant Kotecha
Subscribe to Pro
Join an elite circle of professionals

Browse by Category




Latest Job Openings

View all
Company
Featured 29 October 2026
Accounts Executive

Synergy Keystone

Chennai

B.Com

View Details
Company
ARTICLESHIP 20 October 2026
CA ARTICLE

AMKN & CO

Noida

CA Inter

View Details
Company
Featured 07 November 2026
Paid Assisstant

DPV & Associates

Chennai

CA Inter

View Details
Company
19 October 2026
Accountants/Articles (Freshers/Experienced)

ADY & CO.

New Delhi

Graduate (Any)

View Details
Company
28 October 2026
Assistant Director/ Associate Director-Finance & Accounting

Krea University

Chennai

CA

View Details
Company
Featured ARTICLESHIP 28 October 2026
CA- Inter and Articles

N N V Satish & Co.,

Hyderabad

CA Inter

View Details
Company
31 October 2026
Accountants

sankaran and krishnan

New Delhi

B.Com

View Details
Company
19 October 2026
Accountant

Jari Saree Center

New Delhi

Others

View Details