Home Highlights November 2014 Year 2014 This

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1. Deduction u/s 54 - LTCG invested in buying two residential units - the assessee would only entitle to the benefit of section 54, 1) if the assessee invested the LTCG...

2. 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...

3. LTCG - Deduction u/s 54 - Profit on sale of property used for residence - assessee was already in the possession of the residential house at the time of purchase of the...

4. The Appellate Tribunal considered a case involving a claim for deduction u/s 54 for LTCG. The claim was initially denied as the new asset was not purchased or...

5. Refund of amount in question alleged to be forcibly recovered/collected through DRC-03 by the DGGI - requirement to make an application u/s 54 - The High court grants...

6. LTCG - Benefit of deduction u/s. 54 denied - CIT(Appeals) has gone by the fact that there was absence of Occupation Certificate but this will not be a ground to deny the...

7. Refund claim towards excess custom duty paid - same amount paid twice through oversight and bonafide mistake - The petitioner is entitled to get refund along with...

8. LTCG - Receipt of additional amount towards TDR - treatment to receipt of consideration the appellant ceased to be the owner of the property - compensation received for...

9. LTCG - Deduction claimed u/s 54 - ITAT allowed claim - The High Court notes that the issue revolves around long-term capital gains arising from an Apartment Buyers...

10. 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...

11. LTCG - As explained the reasons for not-depositing the amount in Capital Gains Accounts Scheme which is also not disputed. Since the assessee has substantially complied...

12. The appellant did not acquire a new residential property within the specified time period, failing the mandatory condition for deduction u/s 54. The CIT(A)-NFAC...

13. Eligibility of deduction u/s 54 - LTCG - The possession of the said flat was given on 21.02.2009 and agreement for sale was made on 30.03.2009. Old flat was sold on 6th...

14. Key issues: 1) The treatment of long-term capital gain on inherited/gifted jewelry as short-term capital gain, where the assessee's claim of the jewelry being 30-40...

15. LTCG - deductions claimed u/s 54 & 54EC - scheduled property acquired through settlement deed executed by the grandfather of the assessee - Since the asset held by the...