Claim of Exemption u/s 54 - there is no prohibition under the ...

Income Tax

May 23, 2019

Claim of Exemption u/s 54 - there is no prohibition under the Act in claiming exemption u/s 54 in case assessee has not filed a return of income - Such legal claim can be put forth at any stage of assessment / appellate proceedings and should be considered on merits in the light of the details / documents / corroborative evidence filed in this regard - exemption allowed

View Source

← Previous Next →

Claim of Exemption u/s 54 - there is no prohibition under the ...

Income Tax

May 23, 2019

You may also like:

Disallowing the claim of exemption u/s 54-F - Belated filing of ITR - capital gain was not deposited by assessee before due date of filing return of income under section...

Exemption u/s 11 - Admittedly, the claim of exemption was made in the revised return filed within the statutory time limit but was treated as defective only on flimsy...

Disallowance of exemption claimed u/s 54EC - non filling ROI - investment made in REC - assessee has neither filed return of income u/s 139(1) of the Act, nor in...

Exemption u/s 11 - assessee has not e-filed or not filed return within due date - The NFAC/Ld.CIT(A) ruled in favor of the Assessee, stating that the CBDT circular...

Benefit of accumulation of income u/s.11(2) - denial of claim on non-submission of Form No.10 along with return of income - In this case, the assessee claims that...

Exemption u/s. 54B denied - Assessee did not file return of income - As observed on the amendment in section 139(1) of sixth Proviso, section 54, section 54B or section...

Claim of deduction of long term capital gain claimed u/s 54 - delayed filing of ITR - No deposit in capital gain account scheme account - in such case claim is allowable...

Exemption claimed in the revised return filed u/s 139(5) – When the assessee filed its original return of income at that time, assessee was not granted registration u/s...

Deduction u/s. 80IB(10) - non filling of return on time - the ITAT held that the return filed beyond the due date cannot claim deduction under section 80IB(10) as per...

Adjustment made to the income returned in the intimation made by the CPC u/s 143(1) - exemption u/s 11/12 denied as assessee had failed to furnish the necessary Form 10B...

Exemption u/s 11 - Since the assessee has been claiming exemption u/s.10(23C) in the earlier years therefore during the year under consideration there is high...

Non considering the revised return filed by the assessee for rectifying the mistake in claim of depreciation - In this case, the original return was not filed under...

Carry forward of losses - ITR-V filed belated - Though the contention of the assessee in the said proceedings was that ITR-V was submitted by ordinary post well within...

Deduction u/s. 80P - hardship to file e-return of income - login problem - In the instant case the assessee faced genuine hardship, which mainly arised on account of...

Exemption u/s. 54 - outer limit for the purchase or construction of the new asset 54(2) - it can safely be gathered that the conscious, purposive and intentional...

Quick Updates: