2014 (3) TMI 292 - ITAT HYDERABAD
Sri ABVS. Prakash, Hyderabad Versus The Asst. CIT Central Circle-1, Hyderabad
Capital Gain - Transfer u/s 2(47) - Claim of deduction u/s 54F of the Act - Development Agreement to develop the property - liability of the capital gains of the co-owners – Held that:- The decision in Ms. K. Radhika Versus Deputy Commissioner of Inc ......
2014 (3) TMI 26 - ITAT AHMEDABAD
DCIT, Circle-15, Ahmedabad Versus Shri Radhakant M. Tripathy
Allowability of deduction u/s 54F of the Act – Held that:- The CIT(A) while allowing this deduction has given a finding that Assessee had executed sale deed for sale of land at Jayendra Park Housing Society on 26.03.2007 for Rs. 60 lacs and the trans ......
2014 (3) TMI 17 - ITAT HYDERABAD
SHRI BADAM BALAKRISHNA Versus DEPUTY COMMISSIONER OF INCOME TAX
Penalty u/s 271(1)(c) of the Act – Inaccurate particulars furnished - Held that:- The conduct of the assessee demonstrates conscious disregard to his obligation - Payment of resultant taxes, consequent to survey and detection by the Department of the ......
2014 (1) TMI 1585 - KARNATAKA HIGH COURT
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 1583 - ITAT DELHI
ITO, Ward 13(1), New Delhi Versus Shri Kapil Nagpal
Whether the shares transferred were long term capital asset or not - Held that:- The assessee has filed share transfer form and share certificate to proof that the shares were purchased on 25.10.2005 - If the Assessing Officer had any doubts on these ......
2014 (1) TMI 1491 - MADHYA PRADESH HIGH COURT
The Commissioner of Income Tax Versus Ritesh Kumar Kumat
Exemption u/s 54F - Held that:- Decision in Shashi Sharma vs. CIT [1996 (3) TMI 65 - MADHYA PRADESH High Court] followed - As per the Central Board of Direct Taxes Circular No. 471 issued dated October 15, 1986 - Section 54 of the Act says that withi ......
2014 (1) TMI 1364 - ITAT KOLKATA
Subhas Chandra Parmanandka Versus Income Tax Officer
Denial of deduction u/s 54F of the Act - Compensation received treated as income from undisclosed source – Held that:- Once the assessee has entered into an agreement for the purchase of space which is specified and the place is also specified then i ......
2014 (1) TMI 1271 - ITAT VISAKHAPATNAM
GANTA VIJAYA LAKSHMI Versus INCOME TAX OFFICER
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 ......
2014 (1) TMI 1036 - ITAT COCHIN
Dr. KP. Ali Versus The Deputy Director of Income tax (International Taxation)
Deduction u/s 54F - Held that:- As per the revenue authorities, the assessee has only carried out renovation/ extension of the existing building - The tax authorities have taken the view that the deposit made in Capital gain account scheme for carryi ......
2014 (1) TMI 855 - ITAT CHENNAI
Assistant Commissioner of Income Tax Versus Shri N. Venkatesh
Capital gains to be taxable in whose hands – Exemption u/s 54F - Revenue was of the view that after selling of the property, the property would be considered in the hands of HUF – Held that:- The assessee had himself returned capital gains in his ind ......
2014 (1) TMI 752 - ITAT CHENNAI
Mr. I. Ifthiqar M/s. Dr. Anita Sumanth Ashiq Versus Income Tax Officer, Business Ward-III (1)
Deduction u/s 54F of the Act – Scope of section 22 of the Act – Held that:- The authorities below have erred in coming to the conclusion that the assessee owns two residential properties as the income received from the commercial property is assessed ......
2014 (1) TMI 594 - ITAT MUMBAI
ASSTT COMMISSIONER OF INCOME TAX 19(3), MUMBAI Versus SHRI VIJAY KAMLAKAR WAGH
Deduction u/s 54/54F of the Act – construction of more then one unit / floor in a house - Held that:- Following Commissioner of Income Tax Versus Gita Duggal [2013 (3) TMI 101 - DELHI HIGH COURT] - the assessees claim for deduction u/s 54/54F of th ......
2014 (1) TMI 446 - DELHI HIGH COURT
Commissioner of Income-tax Versus Bharti Mishra
Exemption u/s 54F - whether the respondent-assessee can be denied benefit of Section 54F because construction of the house had commenced before the sale of the shares i.e., on 17th September, 2008 - Held that:- Following CCE v. Favourite Industries [ ......
2014 (1) TMI 298 - ITAT DELHI
Assistant Commissioner of Income Tax Versus Smt. Suman Bindal
Exemption u/s 54F - Held that:- A residential plot cannot be included in the definition of a residential house property as it cannot be used for residence. Therefore, section 54F was applicable to the appellants case - A plot in a residential colony ......
2014 (1) TMI 137 - KARNATAKA HIGH COURT
CIT & DCIT Versus DR R BALAJI
Exemption u/s 54F - Held that:- If the material on record shows, prior to sale, the vendor lived there with his family and he has sold the site along with the residential construction, merely because the property is not suitable to the assessee and c ......