Assessee sold two properties vide sale deed, dt. 15-2-2011 and deposited capital gain amount in Bond\u00a0 30-8-2011. AO allowed the exemption u\/s 54EC of the Act . CIT passed the revision order on the ground that the investment was not made with in period of six months\u00a0 . On appeal allowing the appeal the Appellate Tribunal held that\u00a0 term Month means calendar month and not period of\u00a0 30\u00a0 days. Accordingly the six calendar months from date of sale deed would complete on\u00a0 31-8-2011 and the\u00a0 assessee made\u00a0 investment o 30-8-2011 which\u00a0 was within period of\u00a0 six months hence the order of the AO is affirmed and revision order was quashed . ( AY. 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 263 : Commissioner – Revision of orders prejudicial to revenue – Investment Bonds – Month means calendar month and not period of 30 days – Period of six months is to be considered as six calendar months and not 180 Days- Entitle to exemption \u2013 Order is not erroneous [ S.54EC ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-12864","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3lu","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12864","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=12864"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12864\/revisions"}],"predecessor-version":[{"id":12865,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12864\/revisions\/12865"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=12864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=12864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=12864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}