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Income Tax Case Laws - Section: 54EC,


Income Tax

Cases for Section: 54EC,

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Showing 1 to 15 of 92 Records

2015 (2) TMI 624 - ITAT MUMBAI

Dr. Kumar M. Dhawale, M. LDhawale & Associates Versus ACIT 11(2), Aayakar Bhavan, Mumbai

Disallowance under Section 54EC - whether investment of ₹ 50 lakh made in HHAI Bonds on 26-08-2008 can be considered to be made within six months period as per the proviso to sec. 54EC - Held that:- Since the wording of the proviso to section 5 ......

2015 (2) TMI 527 - ITAT MUMBAI

The Income Tax Officer Versus M/s Shivgopal Trading Company Pvt. Ltd.

Deduction u/s 54EC - investment of Short Term Capital Gain arising from the sale of depreciable asset - CIT(A) allowed the claim - Held that:- Section 50 and Section 54EC are independent provisions. Section 54E does not make any distinction between d ......

2015 (2) TMI 494 - ITAT MUMBAI

M/s. The Sonawala Company Pvt. Ltd. Versus Addl. Commissioner of Income Tax

Disallowance of expenses - CIT(A) allowed claim in part- Held that:- With regard to the expenses, we notice that the Ld CIT(A) has analysed each expense and has given proper reasoning to allow the same. As noticed earlier, the Ld CIT(A) has confirmed ......

2015 (1) TMI 820 - BOMBAY HIGH COURT

The Commissioner of Income Tax-5 Versus M/s. Cadbury India Ltd.

Disallowance of expenditure - deduction could have been claimed and allowed under section 37 of the Act and not under section 35DDA - ld that:- Merely invoking wrong provisions should not disentitle the Assessee from claiming the deduction if the sa ......

2014 (12) TMI 886 - ITAT INDORE

Shri Hemant Kumar Nema And Others Versus ACIT, 3(1), INDORE

Validity of order u/s 143(3) – Jurisdiction of order is viod-ab-initio or not as it was not passed in the name of the deceased assessee – Held that:- Shri Gopaldas Nema in whose name assessment has been made already died on 1.3.2009 - CIT(A) rightly ......

2014 (12) TMI 852 - MADRAS HIGH COURT

Commissioner of Income Tax Versus Coromandel Industries Limited

Benefit of investment on capital gains u/s 54EC(1) - Intention of the legislature is to limit the investment in the long term specified asset to ₹ 50 Lakhs or not - Whether the first proviso to Section 54EC(1) of the Act would restrict the bene ......

2014 (12) TMI 603 - ITAT AHMEDABAD

The Income Tax Officer Versus Shri Deepakkumar J. Galiawala

Validity of adoption of valuation report – facts relating to the valuer not furnished any instance of sale to justify the estimation of the cost verified or not – value and indexation of property as on 01/04/1981 to be taken or not - Held that:- CIT( ......

2014 (12) TMI 521 - ITAT MUMBAI

Mrs. Rati Anil Virwani Pen House Level Versus ACIT 11(1), Mumbai

Restriction of deduction on LTCG u/s 54EC - Quantum of deduction u/s 54EC to be restricted to ₹ 50 lac or not – Held that:- Similar matter has been decided in CIT Vs. C. Jaichander & Another [2014 (11) TMI 54 - MADRAS HIGH COURT] wherein it was ......

2014 (11) TMI 680 - ITAT MUMBAI

DCIT-24(3), Mumbai Versus M/s. Shree Shreemal Builders

Surplus amount on sale of property under Income from capital gains – Business income or not u/s 54EC – Rental income realized from the asset has been offered to tax under the head “business income’ in earlier years and various expenses claimed agains ......

2014 (11) TMI 54 - MADRAS HIGH COURT

Commissioner of Income Tax Versus C. Jaichander

Benefit of investment on capital gains u/s 54EC(1) - Whether the first proviso to Section 54EC(1) would restrict the benefit of investment of capital gains in bonds to that financial year during which the property was sold or it applies to any financ ......

2014 (9) TMI 495 - ITAT AHMEDABAD

Smt. Jyotikaben Bhupendrabhai Shah Versus The Asst. Commissioner of Income-tax

Restriction of amount of exemption u/s 54EC – investment in two financial year totaling ₹ 1 crore - LTCG on sale of factory land - Held that:- The Long Term Capital Gain accrued to the assessee on transfer of Long Term Capital Asset on 01.01.20 ......

2014 (9) TMI 494 - ITAT BANGALORE

Shri SR. Madhavan (HUF) C/o Venkatesan & Co. Versus Income Tax Officer (International Taxation)

Computation of STCG in reassessment proceedings – transactions for sale of land as well as the sale of super built up area - Denial of exemption u/s 54EC since investment made beyond 6 months – Held that:- As far as the sale of a property to M/s. Sum ......

2014 (9) TMI 419 - ITAT BANGALORE

Shri Vivek Jairazbhoy Versus Dy. Commissioner of Income Tax (International Taxation)

Indexed cost of improvement disallowed – Computation of LTCG on sale of property – Held that:- In order to ascertain as to whether at the time of sale or transfer of the said property, any improvement to the property was in existence, when the proper ......


The Commissioner of Income Tax Versus Akbar Ali Dhala

Capital gains u/s 54EC – Investment in REC bonds beyond stipulated period - Whether the Tribunal has jurisdiction and was right in holding that the assessee is entitled to capital gains exemption u/s 54EC – Held that:- The assessee can make his choic ......

2014 (6) TMI 470 - ITAT HYDERABAD

Income Tax Officer Versus Dr. G. Shailaja, Hyderabad

Validity of reopening of assessment u/s 147 of the Act – Reason to believe - Held that:- CIT(A) rightly held that the AO has accepted the income returned u/s 143(3) of the Act, after examination of all the relevant material, such as agreement/cancell ......



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