Home Highlights January 2014 Year 2014 This

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1. LTCG - Deduction u/s 54F - whether the assessee herein has actually constructed any residential house within the meaning, object and time laid down u/s. 54F of the Act,...

2. Disallowance u/s 54F - Investment of Sale consideration for claiming exemption on LTCG - Advance was given for purchase of new residential property but the transaction...

3. LTCG - Denial of exemption u/s 54 - the ITAT observed that, for the purpose of claiming the benefit u/s 54 of the Act, within a period of one year before or two year...

4. LTCG - eligibility or claim of exemption of u/s. 54F - As per AO new asset cannot be considered as acquired within 02 years of transfer of original asset - Since the...

5. Claim of deduction u/s 54/54F - claim for two units - two residential units constructed by the Developer for the Assessee is “a” (one) residential house only - Board...

6. Exemption u/s 54 / 54F - While section 54 of the Act deals with capital gains arising out of transfer of buildings or lands appurtenant thereto and being residential...

7. Exemption u/s 54F(1) - The three parts/limbs cannot be intermingled to deny the benefit of 54F(1) to the assessee. The third part/ limb being applicable to the facts of...

8. Deduction u/s 54F - LTCG - quantum of investment to be made in the New House Property - Actual consideration or Value or transferred property determined as per Section...

9. Exemption u/s 54F - Assessment Year in which the amount is taxable where the assessee had not constructed the house property within the period of 3 years - it will be...

10. Exemption u/s 54F - Assessee given advance for purchase of land in the year 2005 and accordingly acquired right for specific performance of agreement of sale - The said...

11. Deduction u/s 54F - LTCG - Out of these 24 flats, 15 flats are already sold in the present year and remaining 9 flats are likely to be sold within the period of three...

12. Eligibility to exemption u/s.54F - Although the failure of the assessee to deposit the sale proceeds in a Capital Gains Account Scheme, 1988 for intervening period was...

13. Denial of exemption u/s 54F - interpreting the meaning of the word residential house used in Section 54F(1) - assessee even otherwise is entitled to the benefit of...

14. LTCG - Benefit of exemption u/s 54F - Purchase of second residential house - assessee already owns one residential house in USA - Contention of the Ld. AR that the...

15. Exemption u/s.54F - construction of new residential house on land purchase of two parts one before sale of assets - If a plot is purchased in contemplation of ensuing...