Home Highlights October 2013 Year 2013 This

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1. Construction of Residential Complexes u/s 65 (91a) – The Police Housing Corporation appears to have worked as an extended arm of the Government – the houses that were...

2. LTCG - Benefit of exemption u/s 54F - Purchase of second residential house - assessee already owns one residential house in USA - Contention of the Ld. AR that the...

3. Levy of service tax - Residential Complex or not - construction of individual house/villas in residential complex having common areas, common address, common facilities...

4. If the project is executed for the State Police Housing Corporation Limited, the said quarters are allotted by the State Government, service tax liability, prima-facie,...

5. Governmental Authority or not - Rajasthan Housing Board - The Applicant is involved for the framing and execution of housing Schemes subject to the control of the State...

6. Claim of deduction u/s 54/54F - claim for two units - two residential units constructed by the Developer for the Assessee is “a” (one) residential house only - Board...

7. The assessee claimed exemption/deduction u/s 54F on account of investing long-term capital gains in a new residential house. The PCIT disallowed the claim, considering...

8. LTCG - deduction u/s 54 denied - Despite the assessee's claim of having constructed a residential property within the specified timeframe, a physical inspection revealed...

9. Assessee is eligible for deduction u/s 54, even if new residential house is purchased within one year before transfer of capital asset, utilizing funds other than sale...

10. LTCG - Period of holding of asset - deduction u/s 54 - So far as the residential building/house constructed on the said land is concerned, it was constructed in ay:...

11. Levy of Service Tax - construction of residential complex for Indian Army and WBPDCL - As it is not in dispute that the residential flats constructed by the assessee,...

12. LTCG - Denial of exemption u/s 54 - the ITAT observed that, for the purpose of claiming the benefit u/s 54 of the Act, within a period of one year before or two year...

13. Deduction u/s 54F - Rejection of claim for Constructing more than one house - An independent building can have a number of residential units and it will not lose the...

14. LTCG - Exemption u/s 54F - As seen that both the plots, namely, 28 and 29 were simultaneously purchased and are adjacent to each other. The assessee has claimed that...

15. Refund of service tax paid - onstruction activity relating to villas - The residential units constructed by them were individual independent houses not covered by the...