Home Highlights July 2012 Year 2012 This

You may also like:

1. Deduction u/s 54, 54F & 54EC - capital gains arising out of a single transaction of sale of immovable property - there is no such bar that both the deductions, u/s 54...

2. Eligibility of deduction u/s 54 and 54F - in return deduction claimed u/s 54F - in assessment proceedings revised his claim u/s 54 - AO is duty bound to allow deduction...

3. Deduction u/s 54/54F - assessee has not acquired the ownership rights in the new property but merely acquired tenancy right which could not be equated with ownership...

4. Disallowance of exemption u/s 54 & 54F - Merely because of the fact that the property purchased is recorded as the asset in the statement of affairs of HUF and the loan...

5. LTCG - Exemption u/s 54 and 54F - Imposing the restriction on claiming high value deduction taken by high-net-worth assessees - Maximum deduction can be claimed upto 10...

6. Revision u/s 263 - denial of deduction u/s 54 in the hands of Individual - Partition of HUF or not - reading of sub- section 171 of the Income Tax Act, 1961 makes it...

7. Deduction u/s. 54F - assessee has not become the owner of the property in question - becoming the owner of the property in question is not required for the purpose of...

8. LTCG - Deduction u/s 54 - investment was made in the name of her spouse and not in the name of the Assessee - Section 54F/54 of the Act are the beneficial provisions...

9. 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...

10. Properties acquired by the HUF - Creation of smaller HUF - Deemed partition / Notional partition - death of a Mitakshara Coparcener - absence of partition u/s 171 of the...

11. Computation of capital gains - deduction u/s 48 or u/s 54 - consideration paid to wife under the condition of separation - should be considered as allowable deduction...

12. Deduction claimed u/s 54F OR 54 - Investment of LTCG - Owning more than one house property - CIT(A) deleted the addition considering the same u/s 54 - Assessee revised...

13. Deduction claimed u/s 54 - There being no pre–condition u/s 54(1) providing for investment of the long term capital gain in purchase of new house for claiming deduction...

14. Deduction u/s. 54F - construction of residential property - payment made to builder - construction was not complete in respect - No condition that it should be occupied...

15. Partition of HUF -Absence of order u/s 171 - the money received by the Assessee in her capacity as coparcener as and towards her share of the properties of the HUF, on...