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Income Tax Case Laws - Section: 54EC,


Income Tax

Cases for Section: 54EC,
Showing 1 to 15 of 79 Records


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 ......

2014 (1) TMI 603 - ITAT COCHIN

Shri KK. Venugopal Versus The Dy. CIT, Cir. 2(2), Ernakulam

Cost of improvement - Held that:- The original construction was made in 1991-92, therefore, the assessee would have spent considerable amount during the assessment year 2006-07 atleast for maintenance of the building, if not for improvement - The Tri ......

2014 (1) TMI 601 - ITAT COCHIN

Usha Devi Menon Versus ITO, Wd. 1(3), Thiruvananthapuram

Eligibility for exemption u/s 54EC - taxability of advance - Held that:- Under section 2(47)(v), if the possession was handed over as part performance of the agreement, then, there is a "transfer" within the meaning of section 2(47) of the Income-tax ......

2014 (1) TMI 482 - ITAT CHENNAI

Smt. Sriram Indubal Versus Income-tax Officer, Business Ward

Restriction of claim u/s 54EC of the Act Held that:- Both the purchases made by the assessee were within the six months period - the exemption provision has to be construed not transaction-wise but, financial year-wise - if the assessee is able to ......

2014 (1) TMI 246 - MADRAS HIGH COURT

Late R. Krishnaswamy rep. by the legal heir K. Sridhar Versus Commissioner of Income Tax

Exemption u/s 54EC - Held that:- As per Transfer of Property Act, 1882 - Registration of sale deed alone completes the transfer - Four sale deeds came to be registered, on the consideration received for the purposes of Section 45 and Section 54EC of ......

2013 (11) TMI 924 - ITAT AHMEDABAD

Leh Holding Pvt. Ltd. Versus The A. CIT

Method of accounting Cash system of accounting or Mercantile system of accounting - Whether assessee is bound to follow the same method of accounting on continuous basis and not permitted to change the same - Held that:- The assessee on its part su ......

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