Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights October 2013 Year 2013 This

Deduction u/s 54 - , the assessee fulfilled the condition in ...


Assessee Qualifies for Tax Exemption u/s 54 by Building New Home Within Three Years of Asset Transfer.

October 17, 2013

Case Laws     Income Tax     AT

Deduction u/s 54 - , the assessee fulfilled the condition in respect of construction of residential house within a period of three years from date of transfer of the original asset - exemption allowed - AT

View Source

 


 

You may also like:

  1. Assessee claimed deduction u/s 54F for amount deposited in Capital Gain Account Scheme (CGAS) on transfer of capital asset. Unutilized amount withdrawn from CGAS account...

  2. 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...

  3. 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...

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

  5. Transfer of an industrial undertaking from urban to rural area by a partnership firm qualifies for exemption u/s 54G of the Income Tax Act. The assessee, a partner in...

  6. Exemption u/s 54 - assessee has invested in three residential house properties at three different places - scope of amendment - whether exemption is available in respect...

  7. The Appellate Tribunal considered a case involving a claim for deduction u/s 54 for LTCG. The claim was initially denied as the new asset was not purchased or...

  8. 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...

  9. Exemption u/s 54 - sale of house constructed on leased land - as per revenue in order to claim benefit of u/s 54, must also transfer the land appurtenant thereto - what...

  10. The case pertains to service tax liability arising from the sale/transfer of a business as a going concern by way of slump sale under the Income Tax Act, 1961. The issue...

  11. The appellant did not acquire a new residential property within the specified time period, failing the mandatory condition for deduction u/s 54. The CIT(A)-NFAC...

  12. For claiming exemption under S.54 it is not necessary that the investment in new asset should be out of the sale consideration received from transfer of the original...

  13. Denial of deduction/exemption under section 54EC - advance received in specified assets before the date of transfer of asset - the Board have decided that if the...

  14. Imposition of wealth tax - Once the non-productive asset like urban land is converted to a productive asset like a building which qualifies for exemption, then the...

  15. Exemption u/s 54 - sale of residential property OR vacant land with malba - From the Clause of collaboration agreement, it can be seen that what was transferred / handed...

 

Quick Updates:Latest Updates