Denial of exemption u/s 54F - interpreting the meaning of the ...

Court Rules on Section 54F: Can Multiple Apartments Be a Single "Residential House" for Tax Exemption?

June 22, 2020

Case Laws Income Tax HC

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 exemption u/s 54F(1) of the Act as the assessee owns two apartments in same building and therefore, it has to be treated as one residential unit.

View Source

← Previous Next →

Denial of exemption u/s 54F - interpreting the meaning of the ...

Court Rules on Section 54F: Can Multiple Apartments Be a Single "Residential House" for Tax Exemption?

June 22, 2020

Case Laws Income Tax HC

You may also like:

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...

LTCG - deduction u/s 54F - as pursuant to the JDA, assessee had received multiple residential units and not a single residential unit - The Tribunal observed that prior...

Rate of tax - Whether different rates of GST can be levied to affordable and non-affordable residential apartments in a single project/ building that is being developed...

Claim of deduction u/s 54/54F - claim for two units - two residential units constructed by the Developer for the Assessee is “a” (one) residential house only - Board...

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...

Exemption u/s 54 - assessee has invested in three residential house properties at three different places - scope of amendment - whether exemption is available in respect...

IT Capital Gains Exemption u/s 54, residential house, Construction of four flats, It has to be construed only as ‘a residential house’, exemption allowed

The High Court examined whether the assessee had constructed a residential house on agricultural land within the stipulated three-year period from the date of transfer...

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...

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...

Benefit of Exemption from GST - affordable housing - The project referred to in the instant application which is currently under construction by the applicant is a...

Rate of GST - promotion of villa projects for the villa buyers - The applicant is liable to pay GST at the rate of 1.5% in respect of the services of construction of...

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...

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...

Exemption from GST - hostel and residential accommodation extended by the the Applicant hostel - The High court delved into the specifics of the exemption notifications...

Quick Updates: