LTCG - The assessee is not entitled to claim of deduction u/s ...

Assessee Denied Tax Deduction Claims u/ss 54B and 54F for Missing Capital Gains Account Deadline.

January 18, 2019

Case Laws Income Tax AT

LTCG - The assessee is not entitled to claim of deduction u/s 54B/ 54F as the assessee has failed to deposit the unutilized amount of capital gains in the capital gains scheme account by the date of filing of return of income.

View Source

← Previous Next →

LTCG - The assessee is not entitled to claim of deduction u/s ...

Assessee Denied Tax Deduction Claims u/ss 54B and 54F for Missing Capital Gains Account Deadline.

January 18, 2019

Case Laws Income Tax AT

You may also like:

The assessee sold agricultural land during the year which the Assessing Officer (AO) treated as a capital asset, leading to levy of long-term capital gains tax. 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...

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...

Deduction u/s 54F - Clubbing of exempt long term capital gain income of minor children - to find out whether there is any profit or gain chargeable to tax u/s 45(1), the...

Deduction u/s 54F and 54B - investments were been made after the due date for filing of return of income u/s 139(1) but before the filing of return u/s 139(4) - when the...

Assessee claimed deduction u/s 54F for amount deposited in Capital Gain Account Scheme (CGAS) on transfer of capital asset. Unutilized amount withdrawn from CGAS account...

Denying exemption u/s. 54B - Assessee being ignorant of the same as entitled to claim compensation derived from the Government of Maharashtra of compulsory acquisition...

Deduction u/s 54F - Capital gain arising from depreciable assets is long term capital gain for the purpose of claiming exemption under Section 54F/54E of the

Deduction claimed u/s. 54 - delay in depositing unutilized amount in capital gains account deposit scheme - Assessee has explained reasons for depositing unutilized...

Deduction u/s 54 - Proportionate deduction - Denial of deduction as capital gains arising out of sale of original asset was not deposited in the Capital Gain Deposit...

LTCG - Exemption claimed u/s. 54F - Failure to deposited in capital gain deposit scheme - The appellant sold a property, deposited the sale proceeds in a capital gain...

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...

Capital gain from sale of commercial property - intra-head adjustment of loss - Benefit of carry forward of long term capital loss on the sale of shares for the current...

Capital gains on sale of office premises determined as long-term capital gains (LTCG) eligible for exemption u/s 54F. The date of allotment when the right to own the...

The ITAT held that an assessee is eligible for deduction u/s 54F of the Income Tax Act from long-term capital gains, even if the claim was not made while filing the...

Quick Updates: