Tag: capital gain exemption
Exemption u/s 54F allowed holding that assessee was owner of only one house at the time of transfer and became owner of second house property only after mutation In a recent judgment, ITAT Delhi has allowed capital gain exemption u/s 54F holding that assessee was owner of only …
Exemption u/s 54F allowed by ITAT holding that investment in purchase of plot in the name of the spouse and their respective shares is immaterial In a recent judgment, ITAT Chennai has allowed exemption u/s 54F observing that entire investment in purchase of plot is in the name …
Deduction u/s 54F allowed for residential house purchased in the name of wife – ITAT In a recent judgment, the ITAT Chennai has allowed Deduction u/s 54F for residential house purchased in the name of wife holding that assessee and his wife would have commonality of interest to …
Exemption u/s 54B denied for investment in agricultural land made in the name of wife. ITAT followed decision of jurisdictional High Court ABCAUS Case Law Citation:ABCAUS 3748 (2023) (05) ITAT Important Case Laws relied uponCIT vs Dinesh Verma 60 taxmann.com 461 (P&H)Commissioner of Income Tax Vs Vegetable Products …
Payment made by family member for purchase of new property not a bar to assessee in claiming exemption u/s 54F. No one to one co-relation is essential and investment in the name of assessee made within stipulated time is entitled to exemption – ITAT ABCAUS Case Law Citation:ABCAUS …
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 …
Capital Gain exemption u/s 54F denied for want of proof of delay in construction by the builder as per time frame. ABCAUS Case Law Citation:ABCAUS 3645 (2023) (01) ITAT Important Case Laws relied upon:T Shiva Kumar vs ITO 9158 ITD 329Satish Chandra Gupta vs AO (54 ITD 508) ACIT …
CBDT extends date for investment/construction/purchase claiming for capital gain exemption u/s 54 to 54GB . F. No. 225/49/2021-ITA-IIGovernment of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ••••• Circular No. 1 of 2023 New Delhi, dated 06 January, 2023 Subject: Extension …
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 …
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 …
