Deduction u/s 54B - denial - sale of agricultural land standing ...

Court Denies Section 54B Deduction for Agricultural Land Sale; Land Bought in Son and Daughter-in-Law's Names.

June 12, 2012

Case Laws Income Tax HC

Deduction u/s 54B - denial - sale of agricultural land standing in assesee's name - purchases of land in name of son and daughter-in-law - disallowed the exemption u/s 54B - HC

View Source

← Previous Next →

Deduction u/s 54B - denial - sale of agricultural land standing ...

Court Denies Section 54B Deduction for Agricultural Land Sale; Land Bought in Son and Daughter-in-Law's Names.

June 12, 2012

Case Laws Income Tax HC

You may also like:

The ITAT Indore ruled on LTCG deduction u/s 54B for agricultural lands bought in the wife and family's names, but funded entirely by the assessee. Citing SHRI LAXMI...

Exemption u/s 54B - LTCG was invested in the purchase of another agricultural land in the name of his wife - The term “assessee” is qualified by the expression...

Deduction u/s 54B - LTCG - Agriculture land purchased in the name Individual on behalf of HUF - Sale of agriculture land owned by HUF - In substance, the HUF is owner of...

Deduction u/s. 54B - agricultural land which is purchased prior to the sale of agricultural land - the assessee is not entitled to claim deduction u/s. 54B of the Act...

Capital gain - Nature of land - Sale of agricultural land – There is no requirement in any Act more especially the I.T. Act that only the self-cultivated land will be...

Deduction u/s 54B - capital gain on sale of one agricultural land - investment made in two agricultural land - deduction is not allowable in respect of two separate...

Gain on sale of land - Nature of land - agricultural land or capital asset or business receipts - Simply showing the land in the balance sheet as an investment is not...

Addition of undisclosed income arising out of sale of land - on-money - Once, nature and character of land sold is established as agricultural land not to be treated as...

Capital gain on sale of land - Nature of land - it is undisputed fact that assessee has sold agricultural land on which he was carrying out agricultural activities prior...

Deduction u/s 54B - reinvestment of the sale proceeds of the agricultural land - The fact that the agricultural lands were situated within the 8 kilometres from the...

Deduction u/s 10(37) - sale of agricultural land - the land was agricultural land and was being used for agricultural operations prior to the date of acquisition during...

Gains arising on sale of Agricultural land – Assessee might not have paid agricultural income-tax but is paying land revenue and village records clearly showed the land...

Deduction u/s 54B - assessee purchased agricultural land from the sale proceeds - the impugned land on which Ghas / Grass is shown as per revenue record was in the...

Deduction u/s 80RR - playback singer - remuneration in foreign currency - deduction allowed where certificate in the name of assessee - deduction disallowed where...

MAT computation - exclusion of profit on sale of agricultural land while computing book profit u/s 115JB - This land was used for agricultural purpose and considering...

Quick Updates: