ANR.
For Appellant : Dr. Debi Pal, Sr.Advocate with Mrs. N.Banerjee (Pal), Advocate For Respondent : Md. Nizamuddin, Advocate BEFORE:
The Hon'ble JUSTICE BHATTACHARYA The Hon'ble JUSTICE DR. SAMBUDDHA CHAKRABARTI Date : 18th April, 2011.
THE COURT : This appeal will be heard on the following substantial question of law :-
Whether the learned Tribunal below committed substantial error of law in disallowing the claim of exemption of the assessee under Section 54EC of the Income- tax Act, 1961 on the ground that the amount was deposited before the disputed transaction by totally ignoring the Circular issued by the Central Board of Direct Taxes dated 10th May 1983 which specifically allowed such exemption even if the sale proceeds of long term capital assets were invested in specified assets even before the transaction of transfer had taken place.
Let notice of this appeal be served by the Department on the respondent in usual course.
Let requisite numbers of informal paper book containing all relevant papers used before the authority below be filed within two months from date. In default, the appeal will stand dismissed.
Liberty to mention after filing of paper book for inclusion in the hearing list.
Photostat certified copy of this order be made available to the parties upon compliance of usual formalities.
( BHATTACHARYA, J.) ( DR. SAMBUDDHA CHAKRABARTI, J.) Rsg.
AR(CR)