Disallowance of exemption claimed u/s 54EC - non filling ROI - ...

Case Laws Income Tax

February 24, 2024

Disallowance of exemption claimed u/s 54EC - non filling ROI - investment made in REC - assessee has neither filed return of income u/s 139(1) of the Act, nor in response to the notice issued u/s 148 - The tribunal concluded that for claiming exemption under section 54EC of the Income Tax Act, it is not mandatory to file a return of income. - Even at the time of hearing the Ld. DR has not brought our attention to such provision of the Act, suggesting that it is mandatory, for claiming exemption u/s 54EC of the Act, to file the return of income. - AO directed to allow the benefit of exemption.

View Source

← Previous Next →

Disallowance of exemption claimed u/s 54EC - non filling ROI - ...

Case Laws Income Tax

February 24, 2024

You may also like:

Exemption u/s 54EC - REC Bonds - investment within six months from the date of transfer of the capital asset - assessee has demonstrated that non–investment in REC Bonds...

Disallowance of exemption claimed u/s 54EC on investment in REC Bonds - Claim of the assessee cannot be denied on the only ground of delay in investing in the REC Bonds...

Exemption claimed u/s 545EC on investment made in REC Bonds - investment was made 8.5 months prior to date of transfer of the property - benefit denied - AT

Period of investment for claiming exemption u/s 54EC - investments have been made within six months of receipt of such consideration. - exemption allowed.

Deduction claimed under Section 54EC for investment in purchase of REC Bonds - the REC Bonds became available in VIA issue on 22.01.2007 and, therefore, investment made...

The Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals) [CIT(A)] order allowing deduction u/s 54EC for investments made in Rural...

Exemption u/s 54EC - can investments spread over two financial years - The provision as contained in section 54EC r/w its proviso would make it clear that the cap is...

Disallowance u/s 14A - Disallowance made on account of interest expenditure - AO has not made any disallowance on account of interest expenditure u/s 14A of the I.T. Act...

Exemption from Capital Gain Tax u/s 54EC - eligible investment in the Infrastructure Bonds of National Highway Authority of India - HC condones the delay of 6 months in...

Deduction u/s 54EC - long term capital gain on sale of factory building on 22.03.2006 - investment in REC bonds on 31.01.07 - period of limitation - HC

The case deals with the applicability of Section 54EC of the Income Tax Act, which provides exemption from capital gains tax if the gains are invested in specified bonds...

Benefit of Section 54EC - Amount invested in bonds issued by NHAI - Period of limitation for investment - the investment made by the Appellant in bonds issued by NHAI on...

Disallowance u/s 14A - Exempted income - proportionate disallowance of interest paid by the banks for investments made in tax free bonds/ securities which yield tax free...

Refund of taxes TDS - Tax Credit u/s 199 - Defective ROI filled - PAN of a non existing entity (amalgamated) used for filing ROI - when ld AO has assessed income of the...

Disallowance u/s 36(1)(iii) - claim of interest expenditure - The companies GIL and CNIL are subsidiary companies, which clearly indicates that the investment made by...

Quick Updates: