Revision u/s 263 - LTCG - deduction as claimed by the assessee ...

Case Laws Income Tax

May 13, 2021

Revision u/s 263 - LTCG - deduction as claimed by the assessee u/s 54F - Pr. CIT was not justified in imposing his view upon the assessing officer on wrong appreciation of facts and not considering the fact that issues raised in the show cause notice u/s 263 of the Act were thoroughly examined by Ld. AO and has duly applied his mind taking one of the permissible view under the law. - AT

View Source

← Previous Next →

Revision u/s 263 - LTCG - deduction as claimed by the assessee ...

Case Laws Income Tax

May 13, 2021

You may also like:

The assessee was allowed deduction u/s 54/54F without proper examination of relevant details and materials. The Assessing Officer (AO) framed the assessment u/s 143(3)...

Revision u/s 263 - eligibility of claim for deduction u/s 54F - If it born out from record that AO has not examined the claim of assessee for deduction and allowed the...

Deduction claimed u/s 54F OR 54 - Investment of LTCG - Owning more than one house property - CIT(A) deleted the addition considering the same u/s 54 - Assessee revised...

Revision u/s 263 - the issue was duly considered by Ld. AO after considering assessee’s detailed submissions. The view could not be said to be unsustainable view and it...

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...

Revision u/s 263 - Incorrect claim of weighted deduction u/s 35(1)(ii) - there can be no two views that when the assessment order was passed by the AO, assessees claim...

Revision u/s 263 - AO allowed of the assessee‟s claim for deduction of forfaiting charges as revenue expenditure - as the A.O while framing the assessment had...

Revision u/s 263 - allowing deduction u/s 54F in the absence of Long Term Capital Gain - When the assessee has not held the flats for a minimum period of 3 years, the...

LTCG - Rejection of deduction claimed u/s 54F - Deduction u/s 54F of the Act only induces an assessee to make investment in residential house property. If the assessee...

Revision u/s 263 - Eligibility of deduction u/s 80G - Deduction u/s 80G for donation made to Ramkrishna Mission Ashram, ld. PCIT took an adverse view for want of...

Disallowance of exemption claimed u/s 54F - nature of the property as residential in nature - It does not make difference whether the property has been shown as...

Revision u/s 263 - AO has not conducted necessary inquiry before allowing deduction u/s. 54F, but simply allowed the claim made by the assessee. Section 54F of the Act...

The Appellate Tribunal reviewed a case involving a revision u/s 263 related to deduction u/s 80P(2)(a)(i). The AO allowed interest income from FD investments as a...

Revision u/s 263 - AO though made inquiry about the claim made by the assessee, however, not discussed the same while passing assessment order. - It can be seen from the...

LTCG - Exemption u/s 54 and 54F - Imposing the restriction on claiming high value deduction taken by high-net-worth assessees - Maximum deduction can be claimed upto 10...

Quick Updates: