Home Highlights October 2012 Year 2012 This

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1. Supply of services for right to use of car parking space is a separate supply and not to be construed as a composite supply of construction of residential apartment...

2. Eligibility for CENVAT credit – Renting of Car Parking Space - credit allowed - AT

3. LTCG - denial of a claim of exemption u/s 54 - new residential house property was purchased only after the lapse of two years from the sale of original property - The...

4. Exemption against the sale of property u/s 54 – Whether purchasing of share of the son who is co-sharer in the flat amounts to purchase or not - exemption allowed - AT

5. Classification of supply - bundled service or not - right to use of car/two wheeler vehicle parking space along with the sale of under constructed apartments - it is...

6. Deduction u/s 54 - LTCG invested in buying two residential units - the assessee would only entitle to the benefit of section 54, 1) if the assessee invested the LTCG...

7. Extended period of limitation - Classification of services - Right to use of car parking space or not - the Appellant has made out a case on limitation ground as the...

8. Deduction u/s 54 - Purchase of the new flat by the assessee will be treated on the date when the assessee has received the possession after it is constructed and not on...

9. 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...

10. Deduction u/s 80lB(10) - Profit attributable to Car parking space and preferential location charges - Since these are integral part of the housing project, the profit...

11. Eligibility of deduction u/s 54 - LTCG - The possession of the said flat was given on 21.02.2009 and agreement for sale was made on 30.03.2009. Old flat was sold on 6th...

12. Settlement Commission's order rejecting exemption u/s 54 on cash portion invested in purchasing property after sale of another property was invalid. Section 54 does not...

13. Exemption u/s 54 - capital gains - acquiring substantial domain over the new flat within the specified period, the assessee could be said to have complied with...

14. Disallowing the claim of exemption u/s 54-F - Belated filing of ITR - capital gain was not deposited by assessee before due date of filing return of income under section...

15. Service tax on sale and purchase of flats – constitutional validity upheld by HC