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 November 2019 Year 2019 This

Exemption u/s 54F - purchase of residential land - Nursing Home ...


Section 54F Exemption: No Tax Relief for Land with Both Residential House and Commercial Building.

November 2, 2019

Case Laws     Income Tax     AT

Exemption u/s 54F - purchase of residential land - Nursing Home was constructed in addition to the residential house - No force in the argument that exemption is available for the entire land on which construction in respect of residential house as well as commercial building being nursing home have been done.

View Source

 


 

You may also like:

  1. Exemption u/s 54 / 54F - While section 54 of the Act deals with capital gains arising out of transfer of buildings or lands appurtenant thereto and being residential...

  2. Denial of the exemption u/s 54 - Nature of property sold - as far as shops are concerned, even where they are built on a residential plot of land (land use not being...

  3. 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...

  4. In the ITAT Delhi case, the issue revolved around claiming exemption u/s 54F for investment in a residential house. The CIT(A) allowed the exemption based on the...

  5. The High Court held that the phrase 'a residential house' in Section 54F of the Income Tax Act should be interpreted strictly to mean a single residential unit. The...

  6. Exemption u/s 54F - the amendment to provision of section 54F is effective from April 1, 2015, which makes it clear that benefit of section 54F will be applicable to one...

  7. Denial of exemption u/s 54F - interpreting the meaning of the word residential house used in Section 54F(1) - assessee even otherwise is entitled to the benefit of...

  8. LTCG - Deduction u/s 54F - The physical structuring of the new residential house, whether it is lateral or vertical, cannot come in the way of considering the building...

  9. LTCG - Benefit of exemption u/s 54F - Purchase of second residential house - assessee already owns one residential house in USA - Contention of the Ld. AR that the...

  10. Renting services - Residential unit on Industrial plot - Exemption from GST - it can be justifiably inferred that the land was allotted to the owner for industrial...

  11. LTCG - Exemption u/s 54F - As seen that both the plots, namely, 28 and 29 were simultaneously purchased and are adjacent to each other. The assessee has claimed that...

  12. Exemption u/s 54/54F - The assessee should not own more than one residential house, other than the new asset. The word used in the section is the residential house but...

  13. Deduction u/s 54 - investment in two different houses - The Hon’ble Court’s opinion is that, the physical structure of a new residential house whether it is literal or...

  14. LTCG - Purchase of agriculture land – benefit of section 54F of the Act – There is no prohibition regarding construction of a residential house on agriculture land - AT

  15. Deduction u/s 54F - Rejection of claim for Constructing more than one house - An independent building can have a number of residential units and it will not lose the...

 

Quick Updates:Latest Updates