Exemption / deduction u/d 54F - assessee has purchased two ...

Case Laws Income Tax

May 26, 2012

Exemption / deduction u/d 54F - assessee has purchased two separate flats under two separate agreements - Merely because the assessee has let out the two flats to one person for use as a single unit, the same, in our opinion, cannot entitle the assessee to claim benefit of deduction u/s 54F of the Act. - AT

View Source

← Previous Next →

Exemption / deduction u/d 54F - assessee has purchased two ...

Case Laws Income Tax

May 26, 2012

You may also like:

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...

Assessee purchased four flats constituting single residential unit within stipulated time period u/s 54F. Despite separate identification numbers, flats were merged and...

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...

LTCG - Exemption u/s 54F - assessee has purchased triplex flat - The Assessing Officer rejected the claim, arguing that the purchase did not qualify as a single...

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...

Deduction u/s.54F - Assessee holding more than one property - joint ownership - AO Assessee has relinquished his rights on the two flats - it can be safely concluded...

Exemption u/s 54F - merging of 4 flats originally planed into one unit - exemption allowed - AT

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...

Reopening of assessment u/s 147 - Deduction u/s 54 - The mere delay on the part of the developer to hand over the possession of the flat would not vitiate the claim of...

Eligibility for deduction u/s 54F - LTCG - the assessee in the instant case had purchased two flats in different locations. One at Warriam Road and the other at Layam...

Claim of deduction u/s 54F denied - assessee is not able to get the title of the flat registered in his name or unable to get the possession of the flat, which is under...

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...

Exemption u/s 54F - Sale consideration - purchase of five flats - assessee was eligible for claiming exemption under section 54F of the Act on the five flats received...

Applicability of Section 64(1) and Section 54F of the Income Tax Act. Section 64(1) allows for the inclusion of a dependent spouse's income in the assessee's taxable...

Exemption u/s 54 is available on purchase of car parking space along with flat - AT

Quick Updates: