When a house is completed after expiry of three years from the ...

Tax Exemption u/s 54F Applies Even if New Home Construction Exceeds Three-Year Limit.

September 26, 2012

Case Laws Income Tax AT

When a house is completed after expiry of three years from the transfer of the original asset, the assessee is entitled to exemption under section 54F - AT

View Source

← Previous Next →

When a house is completed after expiry of three years from the ...

Tax Exemption u/s 54F Applies Even if New Home Construction Exceeds Three-Year Limit.

September 26, 2012

Case Laws Income Tax AT

You may also like:

Exemption u/s 54F - LTCG - completion of construction or just investment - Nowhere does the provision lay down a stipulation of completion of construction as a condition...

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 Unutilized amount withdrawn from CGAS account...

The circular enhances monetary limits for filing appeals by the Income Tax Department before Income Tax Appellate Tribunal, High Courts, and Supreme Court. For appeals...

Exemption u/s 54F(1) - The three parts/limbs cannot be intermingled to deny the benefit of 54F(1) to the assessee. The third part/ limb being applicable to the facts of...

Reduction in tax liability - payment of tax at compounded rate - The assessee with open eyes applied under the scheme and obtained permission. There was no cause for any...

Deduction u/s 54F in respect of building under construction despite the same having not being fully constructed within the stipulated period of three years - benefit...

Revision u/s 263 - admissibility of deduction u/s 54F - CIT has misinterpreted the provision of law to hold that the assessee was ineligible to claim exemption u/s. 54F...

Notification 52/2003-Cus dated 31.03.2003 governs the re-import of goods after export. Sr. No. 14 allows re-import for repair/reconditioning within 3/7 years,...

Levy of service tax - construction service or not - construction of Paryatak Bhavan - It is, therefore, clear from the aforesaid judgment of the Supreme Court in Larsen...

Section 80IB deduction denied due to non-completion of project within stipulated period u/s 80IB(10) by 31.03.2008 and commercial construction exceeding limit under...

The case pertains to the scope of limited scrutiny by the assessing officer regarding computation of capital gains u/s 45 and providing exemption u/s 54B of the Income...

The circular addresses the Reduction of Government Litigation by setting monetary limits for filing appeals before GSTAT, High Courts, and Supreme Court. It refers to...

Deduction u/s 54F - LTCG - Out of these 24 flats, 15 flats are already sold in the present year and remaining 9 flats are likely to be sold within the period of three...

Exemption u/s 54F - merging of 4 flats originally planed into one unit - exemption allowed - AT

LTCG - Deduction u/s 54F - whether the assessee herein has actually constructed any residential house within the meaning, object and time laid down u/s. 54F of the Act,...

Quick Updates: