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 February 2013 Year 2013 This

Deduction u/s 54 - Date of transfer - Thus the date of agreement ...


Court Rules Agreement Date Not Property Transfer Date for Section 54 Tax Deductions; Affects Deduction Calculations.

February 7, 2013

Case Laws     Income Tax     HC

Deduction u/s 54 - Date of transfer - Thus the date of agreement to sell can not be treated as date of transfer of immovable property. - With the execution of the agreement, it cannot be said that the appellant transferred any right in favour of the purchaser - HC

View Source

 


 

You may also like:

  1. The High Court addressed the issue of deduction u/s 80-IC (2) (a) for a company manufacturing Pan Masala. The company's product was considered excluded for deduction due...

  2. The assessee claimed deduction u/s 80P(2)(d) of the Income Tax Act for interest income earned on deposits with a Cooperative Bank. The Assessing Officer and CIT(A)...

  3. The Income Tax Appellate Tribunal considered whether an assessee can claim deduction under Chapter VI-A of the Income Tax Act, 1961 for the first time in the return...

  4. Disallowance of demurrage charges and reimbursement of salary paid to seconded employees on account of non-deduction of tax at source was dismissed, following coordinate...

  5. Additions u/s 30 - deduction of Lease Equalization Charges - type of lease undertaken- scope of accounting standards - AO noticed that, assessee has created Rent...

  6. Deduction of broken period interest paid on securities and deduction of expenditure incurred on the issue of Fully Convertible Debentures (FCDs). Regarding broken period...

  7. The ITAT Pune dealt with a case involving denial of standard deduction and Chapter VIA deductions u/s 80C. The appellant, an individual earning income under the head...

  8. RATES OF INCOME-TAX for the PY 2022-23 i.e. AY 2023-24 [As per previous year Budget and comparison with Budget 2023 proposals] - Notes In the new tax regime increase the...

  9. MAT - deduction of Rebate u/s 88E while calculating the tax liability of the assessee for minimum alternative tax u/s 115JB - when the total income is assessed and the...

  10. TAX DEDUCTION AT SOURCE UNDER GST - Goods and Services Tax - GST

  11. Deduction u/s 80IA on the enhanced expenditures made to sub-contractors - The issue of the claim of higher deduction on the enhanced profits has been a contentious one....

  12. HC held that the investment write-off claimed as a tax deduction was valid. The investment was made in furtherance of the company's memorandum of association objectives...

  13. The High Court held that the deduction u/s 33AC for creating a reserve to acquire new ships must be factored in while computing the deduction u/s 80-I, which is based on...

  14. Deduction u/s 36(1)(iii) - double deduction for deduction of interest - once these amounts are allowed as deduction in the year of incurring the expenditure, the same...

  15. Revision u/s 263 by CIT - The subject matter of the deduction in the reassessment order was the quantum of deduction but not the eligibility of the deduction and even in...

 

Quick Updates:Latest Updates