Home Highlights April 2016 Year 2016 This

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1. Deduction u/s. 54F - claim in respect of the additional floors added to the new house - it is not the case of the department that the claim of the assessee is for an...

2. Deduction u/s 54F - LTCG - Out of these 24 flats, 15 flats are already sold in the present year and remaining 9 flats are likely to be sold within the period of three...

3. 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...

4. Deduction u/s 54F - dis-allowance on the ground that the construction of house was not completed within the stipulated period - once the assessee has produced the...

5. The case pertains to the determination of the date of "purchase" for claiming deduction u/s 54F of the Income Tax Act. The issue revolves around whether the assessee has...

6. 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...

7. Disallowance of claim u/s 54F - assessee did not purchase new house within the stipulated time of one year prior to the date of transfer of original asset - renovation...

8. Deduction u/s 54F is not available to an assessee who owns more than one house property at the time of purchasing a new property. The assessee, despite jointly...

9. Deduction claimed u/s 54F OR 54 - Investment of LTCG - Owning more than one house property - CIT(A) deleted the addition considering the same u/s 54 - Assessee revised...

10. Deduction u/s 54 - investment in two different houses - The Hon’ble Court’s opinion is that, the physical structure of a new residential house whether it is literal or...

11. Deduction u/s 54F - LTCG - the expenditure incurred by her after purchase of the house for rendering it habitable would be considered as having been incurred for...

12. Deduction u/s 54F - assessee purchased two properties - the requirement of the proviso is that if the assessee purchases any residential house other than the new asset...

13. 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...

14. 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...

15. Disallowance of exemption claimed u/s 54F - nature of the property as residential in nature - It does not make difference whether the property has been shown as...