Tag: capital gain deduction u/s 54

Capital Gain exemption u/s 54 denied for investment not out of sale proceeds ABCAUS Case Law CitationABCAUS 3646 (2023) (01) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the action of Assessing Officer (AO) in restricting capital gain exemption …

Exemption u/s 54F allowed though Capital Gain sale proceed deposited in Nationalised Bank instead of capital gain deposit scheme account ABCAUS Case Law CitationABCAUS 3530 (2021) (07) ITAT In this case appeal was filed by the assessee against the order of the CIT(A) sustaining the addition made by …

Renovation of residential house allowable exemption u/s 54F as it amounts to construction of a residential house. ABCAUS Case Law CitationABCAUS 3393 (2020) (09) ITAT Important case law relied upon by the parties:CIT Vs.  Godavari Devi Saraf (1978) 113 ITR 589 (Bom) In the instant case, the assessee …

Capital gain to be computed first applying exemption and then provisions for set off of capital loss ABACUS Case Law CitationABCAUS 3369 (2020) (08) ITAT Important case law relied upon by the parties:CIT vs Vijay M. Mahtaney 35 taxmann.com 228 (Mad) In the instant case, the assessee had …

Exemption u/s 54F allowed as vendor insisted for execution of two  sale deeds to avoid TDS as agreement for purchase of property was not disputed  ABCAUS Case Law Citation:ABCAUS 3319 (2020) (06) ITAT In the instant case, the appeal was filed by the assessee against the  order passed …

Withdrawal of deduction u/s 54/54F beyond scope of rectification u/s 154. AO has no jurisdiction to re-appreciate evidences already considered.  ABCAUS Case Law Citation:ABCAUS 3294 (2020) (04) ITAT Important case law relied upon by the parties:T.S. Balaram, Income Tax Officer vs Volkart Brothers & Ors, 82 ITR 50 …

Exemption u/s 54/54F for house purchased in wife name, Deduction allowed for change in jurisdictional High Court with favourable judgment ABCAUS Case Law Citation:ABCAUS 3292 (2020) (04) ITAT Important case law relied upon by the parties:CIT, Faridabad vs Dinesh VermaCIT vs., Kamal Wahal 351 ITR4CIT vs. Ravinder Kumar …

Benefit of exemption u/s 54F before its amendment can be extended to a residential house purchased outside India. ITAT allowed claim ABCAUS Case Law Citation:ABCAUS 3195 (2019) (12) ITAT Important case law relied upon by the parties:Anurag Pandit The instant appeal was filed by the assessee against the …

Exemption u/s 54F could not be denied for fraud by builder in constructing building without NOC not disclosed to the assessee ABCAUS Case Law Citation:ABCAUS 3101 (2019) (08) ITAT Important case law relied upon by the parties:Kanan Chandra Sekhar vs. ITO, 165 ITD 315Dileep Ranjrekar, 101 taxman.com 104Balkishan …

Allowability of Exemption u/s 54 where new residential property used partly for commercial purposes . ITAT remanded case for verification of the proposition ABCAUS Case Law Citation:ABCAUS 3100 (2019) (08) ITAT Important case law relied upon by the parties:Seema Sabharwala vs. Income Tax OfficerM. Subramanian vs. DCIT i …