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Income Tax - Highlights / Catch Notes

Home Highlights December 2013 Year 2013 This

With amendment to section 55(2) the “tenancy rights“ attained ...

Income Tax

December 24, 2013

With amendment to section 55(2) the “tenancy rights“ attained legal cognizance -As such there is need for first deciding if the assessee's rights in the property constitutes a “tenancy rights“ within the meaning of section 55(2) - AT

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  11. Payment made for surrender of tenancy rights - deduction allowed u/s 37(1) - AT

  12. 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...

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