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Income Tax Case Laws - Section: 54B


Income Tax

Cases for Section: 54B
Showing 1 to 15 of 63 Records

2014 (4) TMI 470 - ITAT COCHIN

Assistant Commissioner of Income-tax Versus TG. Chandrakumar

Grant of deduction u/s 54B - CIT(A) granted deduction u/s 54B by holding that transfer took place on 17-03-2007 Held that:- CIT(A) found that under Income-tax Act, there was a transfer on 17-03-2007 when physical possession of property was handed o ......

2014 (3) TMI 466 - ITAT AHMEDABAD

Income Tax Officer Versus Shri Arjundbhai Dolat Desai, (HUF)

Deletion of disallowance u/s 54B of the Act Sale of non-agricultural plots - Held that:- The Revenue contended that the CIT(A) has erred in accepting the additional evidences furnished during the appellate stage without remanding the same to the AO ......

2014 (2) TMI 788 - ITAT AHMEDABAD

Haresh Kumar Govindbhai Patel, Prop. Memaganbhai Motiram Sons Versus The Income Tax Officer

Addition on account of Long Term Capital Gain on sale of immovable property Held that:- CIT(A) was of the view that the facts namely that against the deduction u/s 54B, Assessee had only shown new purchase of land - the new asset purchased was a re ......

2014 (2) TMI 733 - ITAT INDORE

Income Tax Officer 5(1) Indore Versus Jaspal Singh Chadha

Deletion made under the head LTCG Income from sale of land - agriculture land Exemption u/s 10(37) of the Act allowed Held that:- The Tribunal was therefore justified in holding that distance of 2 kms from the municipal limits of city of Khanna ......



Entitlement for deduction u/s 54B and 54F of the Act Investments made in the name of daughters Capital gains - Held that:- The benefit of exemption u/s 54B and 54F could be given to an assessee only if the new property is purchased in his own nam ......


Kewal Krishan Jain Versus Commissioner of Income Tax, Jalandhar and another

Power of CIT u/s 264 - Revision in favor of assessee - Held that:- Following Parekh Brothers v. Commissioner of Income Tax, Kerala-II Ernakulam and others, [1983 (8) TMI 17 - KERALA High Court] - Mere fact that the assessee had not raised a plea befo ......

2013 (12) TMI 1050 - ITAT HYDERABAD

Syed Nawab Hussain Versus Assistant Commissioner of Income-tax

Overriding title on property Held that:- There is no material to show that the brothers and sisters of the forefathers having any title over the property - The assessees have not placed any document to show that the payments to whom the assessees h ......

2013 (12) TMI 194 - ITAT HYDERABAD

The ACIT, Circle-6(1), Hyderabad Versus N. Raghu Varma

Deduction u/s 54B The land was continuously used by the assessee for agricultural purposes - The agricultural income from the said property has been declared by the assessee in his return of income - Held that:- The land was entered in the revenue ......

2013 (9) TMI 559 - ITAT HYDERABAD

Smt. Gousia Begum And Others Versus Dy. Commissioner of Income-tax And Others

Agricultural income or not - AO denied the exemption and treated the same as income from other sources - Held that:- finding of the lower authorities goes against the revenue records which show that the land was under cultivation during the financia ......

2013 (9) TMI 237 - ITAT COCHIN

Shri Anwar Sadath and others Versus The Assistant Commissioner of Income-tax and others

Computation of capital gain - Capital asset or agricultural land - Sale of land - Difference between sale consideration shown in agreement to sell and conveyance deed - Held that:- certificates issued by village officer and the revenue authority - t ......

2013 (8) TMI 737 - ITAT COCHIN

Tony J Pulikal Pulickal House, Dr Xavier J Pulikkal Versus The Dy. CIT Cent. Cir. 1, Kochi

Disallowance of exemption u/s 54F - investment in residential house - The dispute is with regard to the area of the land which is required for convenient enjoyment of 254.94 sq.mts of residential house. - Deposit in capital gain deposit scheme - date ......

2013 (8) TMI 188 - ITAT MUMBAI

ITO-24(3) (4), Mumbai Versus Smt. Roocha V. Bivalkar

Addition u/s 68 - Portfolio Investment in Shares - CIT(A) deleted the addition - Held that:- The impugned investments are not related to the previous year to the assessment year under consideration. When the fact being so the provisions of Section 68 ......

2013 (4) TMI 607 - ITAT COCHIN

Ms. Archana Mohan Versus The Assistant Commissioner of Income-tax

Exemption u/s 54B denied - Held that:- It is pertinent to note that the assessee herein held the impugned land jointly along with her elder sister who did not claim the impugned land as an agricultural land. Under these circumstances, it is unable to ......

2013 (4) TMI 606 - ITAT COCHIN

Dr. Mampilly Antony Versus The Deputy Director of Income-tax (International Taxation)

Non-signing of the copy of assessment order - as per the assessee copy of the assessment order served upon him was not signed by AO hence, the entire assessment has to be treated as invalid - assessee is a non-resident and is a practicing Ophthalmolo ......

2013 (1) TMI 545 - KERALA HIGH COURT


Entitlement to exemption u/s 54B - Appellant had 1/4th share in 1.10 acres of land in Ayyanthole Village sold for Rs.44 lakhs on 14.11.2004 - Whether the subsequent purchase of land (at Koothattukulam) in which a farm house is situated satisfied the ......



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