For sec. 54EC exemption six months means ‘Six British calendar months’; ITAT Special Bench’s interpretation

March 25, 2014[2014] 43 taxmann.com 333 (Ahmedabad - Trib.) (SB)

IT : Time limit of 'six months' in sec 54EC means 'six British Calendar months' in view of the General Clauses Act, 1897

• In the absence of any definition of the word 'month' in the Act, the definition of the General Clauses Act,1897 will be applicable. Legislature in its wisdom has chosen to use the word 'month'. This was done keeping in view the definition in section 3(35) of the General Clauses Act, 1897

Note: The Special Bench rejected the Revenue's interpretation that 'month' should be understood in the ordinary sense-i.e. the month is a period from a specified date in a month to the date numerically corresponding date in the following month