Home Highlights March 2018 Year 2018 This

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1. Claim of deduction u/s 80P(2)(d) - interest income received from Co-operative Bank - In the present case even though the assessee’s claim of deduction under section...

2. Assessment u/s 153C - Short Term Capital Gain - transfer within the meaning of section 2[47] - As per the sec.2(47)(i), transfer in relation to capital asset includes...

3. The ITAT Chennai ruled on LTCG deduction u/s 54, stating that investment in more than one property is not allowed. Assessee invested in two distinct properties in...

4. 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...

5. Recovery of Tax - Attachment and auction of property - Right of buyer of property in Auction - the dues as claimed by the respondent no.2, being a charge on the...

6. Deduction u/s 80P(2)(d) - Interest income earned by the Society comes with the category of income from other sources and Section 80P(2)(d) deals with the eligible...

7. Eligibility for deduction u/s 80P - assessee to invest 25% of its profits in the reserve funds, which in turn, are parked in FDRs with Bank of Maharashtra - assessee is...

8. Deduction u/s 80P(2)(a) is allowed for a cooperative society earning interest and dividend income from deposits with a Delhi State Cooperative Bank registered under the...

9. Disallowance of deduction claimed u/s 10AA after claiming deduction / exemption u/s 10A - SEZ unit - As on the commencement of assessment year 2006-07, which is the...

10. 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...

11. 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...

12. Addition u/s 56(2)(vii) - relevant Section 50C cannot be invoked as the said section is applicable in the case of seller of the property only while the appellant is a...

13. Assessee voluntarily declared income under "income from other sources" in return. AO disallowed deduction claimed for coordination and settlement expenses due to lack of...

14. 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...

15. 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...