Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights March 2014 Year 2014 This

Allowability of deduction u/s 54F - it was immaterial that the ...


Section 54F Deduction Allowed Regardless of Construction Timing Relative to Sale of Old Property.

March 1, 2014

Case Laws     Income Tax     AT

Allowability of deduction u/s 54F - it was immaterial that the construction of the new building was started before the sale of the old building - exemption allowed - AT

View Source

 


 

You may also like:

  1. LTCG - Deduction u/s 54F - whether the assessee herein has actually constructed any residential house within the meaning, object and time laid down u/s. 54F of the Act,...

  2. This is a summary of a legal case involving deduction u/s 54F of the Income Tax Act for investment in residential property. The key points are: The assessee invested...

  3. Exemption/deduction u/s 54F - New investment made in wife's name. Sec.54F allows purchase/construction within specified timelines. No requirement for same sale proceeds...

  4. The tribunal held that for quantification of deduction u/s 54F of the Income Tax Act, the actual sale consideration received or accruing from transfer of the original...

  5. Deduction u/s 54F - LTCG - quantum of investment to be made in the New House Property - Actual consideration or Value or transferred property determined as per Section...

  6. Long-term capital gains deduction u/s 54F can be claimed for investment in a residential property not solely owned by the assessee. The assessing officer's sole...

  7. Disallowance u/s 54F - Investment of Sale consideration for claiming exemption on LTCG - Advance was given for purchase of new residential property but the transaction...

  8. Exemption u/s 54F - LTCG - Even before the sale of the property, he had borrowed housing loan and started construction on the site belonging to him. After the sale, the...

  9. Revision u/s 263 - admissibility of deduction u/s 54F - CIT has misinterpreted the provision of law to hold that the assessee was ineligible to claim exemption u/s. 54F...

  10. LTCG - Disallowance u/s 54 - construction of new house begun before the sale of the old house - The Tribunal emphasized that section 54 does not mandate the utilization...

  11. Joint ownership of multiple residential properties at the time of sale of the original asset does not disqualify the assessee from claiming deduction u/s 54F of the...

  12. Validity of reopening an assessment beyond four years from the end of the relevant assessment year, denial of deduction u/s 54F, and the addition on the ground of owning...

  13. LTCG - Deduction u/s 54F - assessee is eligible for deduction u/s 54F even if the construction is commenced before transfer of the capital asset and completed the...

  14. Gain on sale of crypto currency (bitcoin) prior to AY 2022-23 is chargeable to tax as capital gain. Deduction u/s 54F is allowed since assessee held crypto currency for...

  15. The assessee was allowed deduction u/s 54/54F without proper examination of relevant details and materials. The Assessing Officer (AO) framed the assessment u/s 143(3)...

 

Quick Updates:Latest Updates