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Income Tax Case Laws - Section: 54F


Income Tax

Cases for Section: 54F

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Showing 1 to 15 of 225 Records

2014 (10) TMI 319 - ITAT HYDERABAD

Mr. Venigalla Anand Prasad, Smt. V. Krishna Kumari Versus DCIT, Central Circle-5, Hyderabad

Claim of deduction u/s 54F - capital gain from the sale of land - agriculture land or not - intention of the assessee - adventure in the nature of trade or not – Held that:- Following the decision in ACIT, Central Circle-5, Hyderabad vs. M/s. Bhavya ......


Sh. Raj Kumar Bhardwaj Versus Commissioner Income Tax

Jurisdiction to invoke section 263 – Date of conversion of capital asset into stock u/s 54F – Held that:- CIT has valued the jewellery as per cost index, but the fact remains that jewellery always contains some impurity - no jewellery can be made fro ......

2014 (9) TMI 824 - DELHI HIGH COURT

Commissioner of Income Tax-XI Versus Ashish Dhawan

Remand order for examination of deduction u/s 54F – Held that:- The AO while passing the order u/s 154 did not appreciate and notice the correct facts - Earlier also, the AO while passing order u/s 143(3) did not notice the revised return by which th ......

2014 (8) TMI 899 - MADRAS HIGH COURT

Commissioner of Income Tax Versus Smt. VR. Karpagam

Five independent flats treated as single unit u/s 54F – Interpretation of term "a residential house" - Reinvestment of capital gain for claiming exemption u/s 54F – Held that:- The word a appearing in Section 54F of the Income Tax Act should not be ......

2014 (8) TMI 754 - ITAT HYDERABAD

ACIT, Circle 12(1), Hyderabad Versus Dr. K. Mohan, Hyderabad

Claim of exemption u/s 54/54F – Income from salary and property – AO was of the view that assessee own more than two houses at the time of capital gains – Held that:- Assessee received a total of ₹ 75,00,000 - even though the cancellation deed ......

2014 (7) TMI 988 - ITAT CUTTACK

Harendra Kumar Das Versus ITO, Ward, Bhadrak

Deduction u/s 54F – Computation of total income – Compensation of land building from National Highway Securities - Held that:- The AO has allowed deduction on account of cost of acquisition of land and no deduction u/s.54F was given on the amount inv ......

2014 (7) TMI 373 - ITAT CHENNAI

Shri. Hemanth Kumar Bothra Versus The Income Tax Officer

Jurisdiction u/s 263 of the Act – Sale of property – STCG or LTCG – Held that:- The assessee’s explanations could not convince the CIT – CIT was of the opinion that there is difference in the rate of tax between the two capital gains i.e. 30% and 20% ......

2014 (7) TMI 297 - ITAT HYDERABAD

The Income Tax Officer Versus Smt. Dharam Shoba Rani

Income from LTCG – Claim of exemption u/s 54E and 54F of the Act – Held that:- In assessee’s own case Tribunal has clearly directed the AO to examine the fact whether the amount paid is for acquisition of flat or not as relying upon and to decide the ......

2014 (7) TMI 292 - ITAT MUMBAI

Hitesh J. Parikh Versus ITO 5(1) (1), Mumbai

Admission of additional evidence - Claim of deduction u/s 54F - Transfer of tenancy rights – Income from other sources or capital gain – Held that:- The language of rule 29 of the Income-tax (Appellate Tribunal) Rules, 1963, prohibits the parties to ......

2014 (7) TMI 130 - ITAT HYDERABAD

ACIT, Cir-9(1), Hyderabad Versus Sri MA. Sattar, Hyderabad.

Claim of exemption u/s 54F – amount advanced to his wife towards purchase of the property - assessee has 50% ownership over the property - Held that:- The AO does not dispute the fact that assessee’s wife has purchased the property in her name by ut ......

2014 (6) TMI 607 - ITAT MUMBAI

Shri Joseph J. Mudaliar Versus The Assistant Commissioner of Income Tax

Levy of penalty u/s 271(1)(c) of the Act - Claim of deduction u/s 54F - investment in two adjacent houses – Held that:- The assessee has made a claim u/s 54F to the extent of the investment made in three flats at same floor of the building - out of t ......

2014 (6) TMI 399 - ITAT HYDERABAD

Income Tax Officer Ward 11(3), Hyderabad Versus Smt. D. Aruna Reddy, Hyderabad

Computation of capital gain – Sale of land - Relief u/s 54F of the Act – Held that:- Shri G.Sudhakar Rao has also submitted details of the payments made on various dates and also copies of the relevant extracts of bank statements - the CIT(A) directe ......

2014 (6) TMI 369 - ITAT HYDERABAD

Sri P. Ramgopal Varma Versus Addl. Commissioner of Income-tax

Revision u/s 263 of the Act – Claim of exemption u/s 54F of the Act – Capital gain towards investment in purchase of residential house – Held that:- Relinquishing or extinguishing one’s right over a capital asset also amounts to transfer - assessee h ......

2014 (6) TMI 40 - ITAT JAIPUR

Ram Prakash Miyan Bazaz Versus DCIT, Circle-6, Jaipur

Claim of exemption u/s 54F of the Act – Long Term Capital Gains – as per AO at the time of acquisition of land, the assessee owned more than one residential house. - further as per AO advance payment made for the purchase of residential flat has no ......

2014 (5) TMI 884 - ITAT HYDERABAD

Late M. Ram Reddy Versus Income-tax Officer, Ward-11(2), Hyderabad

Entire sale consideration taxed – Sale of land – Computation of capital gain - Family agreement – Documents not registered for stamp duty purpose – Held that:- Following Shashikant Laxman Kale And Another Versus Union of India And Others [1990 (7) TM ......



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