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 December 2019 Year 2019 This

Revision u/s 264 - benefit u/s 54B denied - land were used for ...

Case Laws     Income Tax

December 2, 2019

Revision u/s 264 - benefit u/s 54B denied - land were used for agricultural purposes for two years or not - the factual aspects raised in this writ petition, need to be considered once again by the first respondent and to decide the matter as to whether the petitioner has satisfied the requirement contemplated under Section 54B, while seeking deduction.

View Source

 


 

You may also like:

  1. Deduction u/s 54B - Benefit of exemption denined on the ground that, the land was sold by the assessee to a developer and ultimately the land would be used for...

  2. Revision u/s 263 by CIT - justification for claim of deduction u/s. 54B - Section 54B of the Act is not applicable, if the land was not used for agricultural purposes in...

  3. Exemption u/s 54B - The plain language of Section 54B requires the land sold to have been in use by the assessee or by his parents or the HUF for agricultural purposes...

  4. Exemption u/s 54B mandates - Capital gain on transfer of land used for agricultural purposes - This section nowhere talks that the land must be used for agricultural...

  5. Deduction u/s 54B - part of land was not cultivable- Sec.54B does not specify that the entire land should be used for cultivation, if any part of the land is under...

  6. For the claim of exemption u/s 54B, it is not necessary that the land should have been used for agricultural purposes for full two years immediately preceding the date...

  7. 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...

  8. 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...

  9. 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...

  10. The Appellate Tribunal addressed the issue of whether land sold should be treated as agricultural for Long Term Capital Gains (LTCG) purposes. The Department did not...

  11. 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...

  12. 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...

  13. 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...

  14. Revision u/s 263 - deduction u/s 54B - No specific enquiry with regard to the land use prior to its date of sale i.e. whether the land which was sold was used for...

  15. Nature of land sold - Capital asset u/s 2(14) or agricultural land - If both the conditions are present then it would not be agricultural land and would be treated as...

 

Quick Updates:Latest Updates