Dismissing the appeal of the revenue the Court held that the part consideration which is kept in the escrow account to avoid litigation is taxable in the year of receipt . The assessee has made investment with in specified time the entitle to exemption . ( AY. 2008 -09)
CIT v. Mahipinder Singh Sandhu (2019) 416 ITR 175/ 182 DTR 369/ 311 CTR 116 (P&H) (HC)
S. 54EC : Capital gains – Investment in bonds -Part consideration in escrow account – Invested in the year of receipt -Entitle to exemption .[ S.45 ]