{"id":64654,"date":"2026-10-01T18:38:11","date_gmt":"2026-10-01T13:08:11","guid":{"rendered":"https:\/\/itatonline.org\/digest\/cit-v-k-kumaran-2025-173-taxmann-com-838-2026-349-ctr-343-madhc-2\/"},"modified":"2026-10-01T18:38:11","modified_gmt":"2026-10-01T13:08:11","slug":"cit-v-k-kumaran-2025-173-taxmann-com-838-2026-349-ctr-343-madhc-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-k-kumaran-2025-173-taxmann-com-838-2026-349-ctr-343-madhc-2\/","title":{"rendered":"CIT v. K. Kumaran [2025] 173 taxmann.com 838 \/ (2026) 349 CTR 343 (Mad)(HC)."},"content":{"rendered":"<p style=\"margin: 0in;margin-bottom: .0001pt;text-align: justify;line-height: 150%\"><span lang=\"EN-IN\" style=\"font-family: &#039;Verdana&#039;,sans-serif\">The assessee claimed deduction under section 54EC by making an investment of Rs. 10 crores in NABARD bonds on 26 November 2005. However, one of the properties giving rise to part of the capital gain was sold only on 13 February 2006, and the sale consideration was therefore not available to the assessee on the date of investment. The Court held that exemption under section 54EC could be claimed only to the extent of capital gain arising from properties already sold and available for investment within the prescribed period. Accordingly, out of the investment of Rs. 10 crores, exemption was restricted to Rs. 8,55,54,167, and the balance claim of Rs. 1,44,45,833 was not allowable. <strong><span style=\"font-family: &#039;Verdana&#039;,sans-serif\">(AY. 2006-07) <\/span><\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 54EC: Capital gains-Investment in specified bonds-Investment made before sale of property-Exemption restricted to capital gain available on date of investment. [S. 45, 260A] <\/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_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-64654","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-gOO","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64654","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=64654"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64654\/revisions"}],"predecessor-version":[{"id":64655,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64654\/revisions\/64655"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=64654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=64654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=64654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}