Home Highlights April 2016 Year 2016 This

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1. Deduction u/s 54F - Clubbing of exempt long term capital gain income of minor children - to find out whether there is any profit or gain chargeable to tax u/s 45(1), the...

2. Exemption u/s 54EC - eligibility of capital gain from sale of depreciable assets being taxable as short term capital gain u/s 50 – overriding provision - benefit of...

3. Exemption u/s 54F - disallowance being long term capital gain on sale of plot - LTCG - section 54F nowhere envisages that the sale consideration obtained by assessee...

4. Capital gain from sale of commercial property - intra-head adjustment of loss - Benefit of carry forward of long term capital loss on the sale of shares for the current...

5. Exemption u/s 54EC - Assessee has not been able to raise any material contention to dispute this position. He has only submitted that the assessee wanted to invest the...

6. Deduction u/s 54F - Capital gain arising from depreciable assets is long term capital gain for the purpose of claiming exemption under Section 54F/54E of the

7. Entitlement to Exemption u/s 54F - assessee had admittedly paid the entire consideration for the purchase of the residential premises even before the capital gain...

8. Deduction claimed u/s. 54 - delay in depositing unutilized amount in capital gains account deposit scheme - Assessee has explained reasons for depositing unutilized...

9. Exemption u/s 54F - merging of 4 flats originally planed into one unit - exemption allowed - AT

10. Disallowance of deduction u/s 54F - assessee has converted his capital asset into stockin- trade and accrued capital gains which he invested in construction of...

11. Exemption u/s 54F - Capital gain - joint development agreement - assessee are eligible for exemption even though multiple flats were allotted to them in lieu of cost of...

12. Exemption u/s. 54EA - transfer of shares held as stock-in-trade - transfer of unlisted shares of DSPML is to be taxed under the head “capital gains” irrespective...

13. Denying exemption u/s 54/54F - LTCG - since the entire sale amount of long term capital gain have been invested in purchase of other property in the name of wife of...

14. Exemption from long term capital gains (LTCG) u/s 54F - Construction or acquisition of property - earlier structure was demolished and new construction was made on the...

15. 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...