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 April 2023 Year 2023 This

Deduction u/s 54B - LTCG - the claim made by the assessee that ...


Deduction u/s 54B allowed as assessee bought property in spouse's name, paid full amount.

April 7, 2023

Case Laws     Income Tax     AT

Deduction u/s 54B - LTCG - the claim made by the assessee that of deduction u/s 54B was justifiable as the purchase was made in the name of assessee’s wife for which the assessee has paid the entire - AT

View Source

 


 

You may also like:

  1. The ITAT Indore ruled on LTCG deduction u/s 54B for agricultural lands bought in the wife and family's names, but funded entirely by the assessee. Citing SHRI LAXMI...

  2. The ITAT Chennai ruled on LTCG deduction u/s 54, stating that investment in more than one property is not allowed. Assessee invested in two distinct properties in...

  3. Long-term capital gains deduction u/s 54F can be claimed for investment in a residential property not solely owned by the assessee. The assessing officer's sole...

  4. Benefit of exemption u/s 54B - investment on agricultural land made in the name of spouse of the assessee - In view of the clear provisions, investment made by any other...

  5. Deduction u/s 54F is not available to an assessee who owns more than one house property at the time of purchasing a new property. The assessee, despite jointly...

  6. Disallowance being amount of State Value Added Tax (VAT) paid for earlier years - Deduction u/s 80IB claimed - Assessee became liable to pay VAT for earlier years - The...

  7. Exemption/deduction u/s 54F - New investment made in wife's name. Sec.54F allows purchase/construction within specified timelines. No requirement for same sale proceeds...

  8. Benami Property - Transaction entered into between spouses - while enacting the Act, the legislatures have kept in mind the practical scenario of the society where a...

  9. Deduction u/s 54B - denial - sale of agricultural land standing in assesee's name - purchases of land in name of son and daughter-in-law - disallowed the exemption u/s 54B - HC

  10. Deduction u/s 80RR - playback singer - remuneration in foreign currency - deduction allowed where certificate in the name of assessee - deduction disallowed where...

  11. Deduction u/s 54B - investment made prior to the date of sale - Agriculture land- the assessee should be allowed the benefit of deduction under section 54B of the Act...

  12. Deduction u/s 54 - property sold was in the sole name of the assessee and the property purchased was in the joint names of the assessee and his wife - the consideration...

  13. Disallowance of deduction u/s 54B - assessee did not file return under Section 139(1) of the Act and he has not deposited the sale proceeds in the capital account - The...

  14. Unexplained investment u/s 69 - Amount advanced by M/s. KSR Constructions to the assessee has to be construed as the amount given by M/s. KSR Constructions on behalf of...

  15. Exemption u/s 54B - LTCG was invested in the purchase of another agricultural land in the name of his wife - The term “assessee” is qualified by the expression...

 

Quick Updates:Latest Updates