Claim of exemption u/s 54F - It is enough that the assessee ...

Case Laws Income Tax

June 24, 2017

Claim of exemption u/s 54F - It is enough that the assessee procures the new property within the stipulated time provided in section 54F to claim the exemption. How the property purchased by the assessee is irrelevant.

View Source

← Previous Next →

Claim of exemption u/s 54F - It is enough that the assessee ...

Case Laws Income Tax

June 24, 2017

You may also like:

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...

Legal interpretation of the term "original asset" for claiming exemption u/s 54F of the Income Tax Act. It discusses the ownership rights over the "original asset" by...

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...

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,...

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...

Exemption u/s 54F - disallowance being long term capital gain on sale of plot - LTCG - section 54F nowhere envisages that the sale consideration obtained by assessee...

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...

Compensation received by assessee from builder for non-delivery of property within stipulated time is a capital receipt not chargeable to income tax. Assessee had...

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...

Disallowing the exemption claimed u/s 54/54F - sale of the bungalow as well as the land - assuming the assessee has claimed deduction under section 54F of the Act, then...

Claim of exemption u/s 54F – amount advanced to his wife towards purchase of the property - assessee has 50% ownership over the property - exemption allowed - AT

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...

LTCG - eligibility or claim of exemption of u/s. 54F - As per AO new asset cannot be considered as acquired within 02 years of transfer of original asset - Since the...

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...

Exemption of capital gains earned u/s 54F - delay in investment - purchase of flat in housing society as per MOU - the consequent delay being minor delay of 5 months...

Quick Updates: