Investment should be made within six calendar months & not 180 days for claiming benefit of section 54EC

Section 54EC, read with section 263, of the Income-tax Act, 1961 - Capital gains - Not to be charged on investment in certain bonds (Computation of time period) - Assessment year 2011-12 - Whether for purpose of section 54EC, term 'month' means calendar month and not period of 30 days - Held, yes - Assessee sold two properties vide sale deed, dated 15-2-2011 and deposited capital gain amount in REC Bond on 30-8-2011 - Whether six calendar months from date of sale deed would complete on 31-8-2011 and, therefore investment made by assessee on 30-8-2011 was within period of six months and assessee was entitled to benefit of section 54EC - Held, yes

Refer:[2020] 113 taxmann.com 586 (Kolkata - Trib.)