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Income Tax Case Laws - Section: 54EC,


Income Tax

Cases for Section: 54EC,

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Showing 1 to 15 of 84 Records

2014 (11) TMI 680 - ITAT MUMBAI

DCIT-24(3), Mumbai Versus M/s. Shree Shreemal Builders

Surplus amount on sale of property under Income from capital gains – Business income or not u/s 54EC – Rental income realized from the asset has been offered to tax under the head “business income’ in earlier years and various expenses claimed agains ......

2014 (11) TMI 54 - MADRAS HIGH COURT

Commissioner of Income Tax Versus C. Jaichander

Benefit of investment on capital gains u/s 54EC(1) - Whether the first proviso to Section 54EC(1) would restrict the benefit of investment of capital gains in bonds to that financial year during which the property was sold or it applies to any financ ......

2014 (9) TMI 495 - ITAT AHMEDABAD

Smt. Jyotikaben Bhupendrabhai Shah Versus The Asst. Commissioner of Income-tax

Restriction of amount of exemption u/s 54EC – investment in two financial year totaling ₹ 1 crore - LTCG on sale of factory land - Held that:- The Long Term Capital Gain accrued to the assessee on transfer of Long Term Capital Asset on 01.01.20 ......

2014 (9) TMI 494 - ITAT BANGALORE

Shri SR. Madhavan (HUF) C/o Venkatesan & Co. Versus Income Tax Officer (International Taxation)

Computation of STCG in reassessment proceedings – transactions for sale of land as well as the sale of super built up area - Denial of exemption u/s 54EC since investment made beyond 6 months – Held that:- As far as the sale of a property to M/s. Sum ......

2014 (9) TMI 419 - ITAT BANGALORE

Shri Vivek Jairazbhoy Versus Dy. Commissioner of Income Tax (International Taxation)

Indexed cost of improvement disallowed – Computation of LTCG on sale of property – Held that:- In order to ascertain as to whether at the time of sale or transfer of the said property, any improvement to the property was in existence, when the proper ......


The Commissioner of Income Tax Versus Akbar Ali Dhala

Capital gains u/s 54EC – Investment in REC bonds beyond stipulated period - Whether the Tribunal has jurisdiction and was right in holding that the assessee is entitled to capital gains exemption u/s 54EC – Held that:- The assessee can make his choic ......

2014 (6) TMI 470 - ITAT HYDERABAD

Income Tax Officer Versus Dr. G. Shailaja, Hyderabad

Validity of reopening of assessment u/s 147 of the Act – Reason to believe - Held that:- CIT(A) rightly held that the AO has accepted the income returned u/s 143(3) of the Act, after examination of all the relevant material, such as agreement/cancell ......

2014 (6) TMI 358 - ITAT AHMEDABAD

The DCIT. Circle-5, Ahmedabad Versus Shri Hiren K. Patel

Method of accounting of income in respect of DDBs/NCD - Use of Cash System instead of Mercantile system – hybrid method of accounting - Held that:- Following Smt Punitaben K. Patel, Shri Karsanbhai K. Patel, Shri Hiren K. Patel Versus ACIT, CC-1(1), ......

2014 (6) TMI 352 - ITAT AHMEDABAD

Smt Punitaben K. Patel, Shri Karsanbhai K. Patel, Shri Hiren K. Patel Versus ACIT, CC-1(1), Ahmedabad

LTCG treated as STCG – Sale of deep discount bonds – Claim of deduction u/s 54EC of the Act not allowed - Held that:- The holding period has to be counted form the date of allotment till the date of sale and if the same is more than 12 months then, i ......


Sunil Kumar Agarwal Versus Commissioner of Income Tax, Siliguri

Reference made to valuation officer u/s 50C(2) of the Act – Claim of exemption u/s 54EC of the Act - Sale consideration received is fully invested in bonds notified - Held that:- The valuation by the departmental valuation officer, contemplated u/s 5 ......


Commissioner of Income Tax, Kolkata-XVII Versus Dilip Kumar Roy

Admissibility of appeal - Monetary limit for filing appeal – Held that:- Under Instruction No. 3/2011 dated 9th February, 2011 issued by the CBDT u/s 268A(1) of the Income Tax Act it has been mentioned that the appeal cannot be filed if the tax effec ......


ITO, Ward-3, Bharuch Versus Shri Ajay Ramlal Shah Prop. of Shah Builders

Sale of land – LTCG or Business income – Held that:- The CIT(A) rightly was of the view that the transaction of sale of plots is an independent transaction of sale of capital asset and, is to be taxed as income from capital gains - the proceeds from ......

2014 (3) TMI 842 - ITAT AHMEDABAD

Alkaben B. Patel Versus The Income Tax Officer

Exemption u/s 54EC of the Act – Investment in NHAI bonds - Whether the investment of Rs.45 lacs was made within six months from the date of the transfer of the "Long Term Capital Asset" so as to qualify for the exemption u/s.54EC of the Act and wheth ......


Commissioner of Income-tax Versus A. Suresh Rao

Exemption u/s 54EC and 54F - Held that:- Relying upon the decision in Smt. Saroj Aggarwal v. Commissioner of Income-tax [1985 (9) TMI 6 - SUPREME Court] - It is not necessary that after payment of cost of acquisition, a title deed is to be executed i ......

2014 (1) TMI 1443 - ITAT CHENNAI

M/s. Coromandel Industries Pvt. Versus Assistant Commissioner of Income-tax

Restriction of exemption u/s 54EC of the Act – Amount invested in long term bonds – Held that:- The decision in Smt. Sriram Indubal v. ITO [2014 (1) TMI 482 - ITAT CHENNAI ] followed - If the assessee is able to keep the six months limit from the da ......



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