Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights February 2019 Year 2019 This

Denial of deduction u/s 54F - net consideration has not been ...

Case Laws     Income Tax

February 23, 2019

Denial of deduction u/s 54F - net consideration has not been utilized for the purposes of deposit in the notified bank account in terms of Section 54F(4) of the Act before due date specified u/s 139(1) - additions confirmed.

View Source

 


 

You may also like:

  1. 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...

  2. Allowability of deduction u/s 80P(2)(d) for interest income from deposits/investments in a cooperative bank by a cooperative society. The assessee, a cooperative society...

  3. Validity of reopening an assessment beyond four years from the end of the relevant assessment year, denial of deduction u/s 54F, and the addition on the ground of owning...

  4. Cash deposits in bank account as unexplained cash deposits - cash deposits pertained to assessee's retail business - Since the assessee has not maintained any books of...

  5. Exemption u/s 54F - he meaning of “net consideration” as regards Section 54F(1) is not governed by the meaning of “full value of consideration” as mentioned in Section 50C.

  6. The tribunal held that for quantification of deduction u/s 54F of the Income Tax Act, the actual sale consideration received or accruing from transfer of the original...

  7. Unexplained cash deposits in bank account - The claim of the assessee remained as a bald claim only followed by no evidence. Why the depositors will deposit their funds...

  8. Disallowance of deduction claimed u/s. 80P - the funds available are for the business purpose of providing credit facilities - It is only because in a given point of...

  9. Deduction u/s. 54 - the question of deposit of unutilised capital gain will come up for consideration only when the capital gain is not utilised in construction of house...

  10. Eligibility of exemption u/s 54F(4) - the entire amount which was subject to capital gain tax had not been utilized for the purpose of construction of new house nor were...

  11. 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...

  12. Income from house property - Deduction of Interest paid on security deposit received from the tenants - these interest bearing deposits has been utilized for repayment...

  13. Unexplained cash credit - addition of cash deposit in bank account - It is important to mention here that the bank statements cannot be termed as books of accounts for...

  14. Unexplained cash deposits in bank - receipt of rental deposits in cash - The fact remains that the cash rental deposits have been received by the assessee which is not...

  15. Undisclosed bank deposits - The withdrawal of the amount from the bank can be considered as a source for re-depositing if the assessee can fully satisfy the AO that the...

 

Quick Updates:Latest Updates