Tag: capital gain exemption
Claim for exemption u/s 54B allowed though not made in the return of income. AO had disallowed claim as revised return was not filed ABCAUS Case Law Citation:ABCAUS 3077 (2019) (07) ITAT Important Case Laws Cited/relied upon by the parties:M/s. Goetze India Pvt. Ltd. Vs. CIT 284 ITR …
Deduction u/s 54F for house purchased from father in law allowed when he was assessed to long term capital gain with reference to sold house ABCAUS Case Law Citation: ABCAUS 2971 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties: In this appeal, the assessee had …
Cancellation of flat booking held Long Term Capital Gain and deduction u/s 54 allowed. ‘Property’, is a term of widest import and signifying every possible interest which a person can hold or enjoy ABCAUS Case Law Citation: ABCAUS 2899 (2019) (05) ITAT Important Case Laws Cited/relied upon by …
Malba charges was rejected as cost of investment for claiming deduction u/s 54F as there was no occasion for purchasing malba – ITAT ABCAUS Case Law Citation: ABCAUS 2728 (2019) (01) ITAT The Assessee had challenged the order passed by the CIT(A) in confirming in confirming the action …
No disallowance u/s 54EC for delay in cheque clearance for investment in REC Bonds which was attributable to the banking channel – ITAT ABCAUS Case Law Citation: ABCAUS 2722 (2019) (01) ITAT This appeal by the assessee was directed against the order of the Commissioner of Income Tax …
When entire investment/payments for flat purchase was made by the assessee in the name of his daughter, the capital gain was liable to be assessed in the hands of the assessee ABCAUS Case Law Citation: ABCAUS 2705 (2019) (01) ITAT Important Case Laws Cited/relied upon: Sanjeev Lal v. …
Section 50C has no application in case the entire net sale consideration has been applied for acquiring the new house – ITAT ABCAUS Case Law Citation: ABCAUS 2686 (2018) (12) ITAT Important Case Laws Cited/relied upon: DCIT Vs. Dr.Chalasani Mallikarjuna Rao Gyan Chand Batra Vs. ITO (2010) 6 …
Exempted income can not be taxed even if no revised return filed. AO in proceedings u/s 143 can not refuse to grant relief on such technical plea – High Court ABCAUS Case Law Citation: ABCAUS 2183 (2018) (01) HC Important Case Laws Cited/relied upon by the parties: Goetze …
Deduction us 54B for land purchased in wife’s name disallowed by ITAT following the judgment of Punjab & Haryana High Court. ABCAUS Case Law Citation: ABCAUS 1163 (2017) (03) ITAT Assessment Year : 2007-08 Date/Month of Pronouncement: February 2017 Brief Facts of the Case: The appellant assessee sold …
Sale deed between wife-husband held as colourful device to avoid tax liabilities. Exemption u/s 54F denied on the basis of relinquishment deed by husband-ITAT ABCAUS Case Law Citation: ABCAUS 1088 (2016) (12) ITAT Important Case Laws cited: CIT vs Macdowell Ltd. (SC) CIT vs. T.N. Aravinda Reddy (SC) …
