Exemption against the sale of property u/s 54 – Whether ...

Buying Property Share from Son Qualifies for Tax Exemption u/s 54, Court Rules in Favor of Taxpayer.

November 24, 2014

Case Laws Income Tax AT

Exemption against the sale of property u/s 54 – Whether purchasing of share of the son who is co-sharer in the flat amounts to purchase or not - exemption allowed - AT

View Source

← Previous Next →

Exemption against the sale of property u/s 54 – Whether ...

Buying Property Share from Son Qualifies for Tax Exemption u/s 54, Court Rules in Favor of Taxpayer.

November 24, 2014

Case Laws Income Tax AT

You may also like:

Income Tax: Tax on distributed income of domestic company for buy-back of shares to be treated as dividend in hands of shareholders. Cost of acquisition of shares bought...

Legal interpretation of the term "original asset" for claiming exemption u/s 54F of the Income Tax Act. It discusses the ownership rights over the "original asset" by...

Exemption on property tax paid on immovable property - Notification

Capital gain - legal owner of property - entire funds at the time of purchase of property was paid by his son the entire sale consideration is also received by her son -...

The HC adjudicated a wealth tax dispute concerning urban vacant land exemption under the Wealth Tax Act. The Supreme Court's ruling in Giridhar G. Yadalam's case...

ITAT adjudicated a tax dispute concerning technical services fees under Section 9(1)(vii) of the Income Tax Act and India-Netherlands Tax Treaty. The tribunal determined...

Classification of services - Banking and Other Financial Services - They have not been guiding or suggesting any course of action to his customers. The appellant neither...

Gain on sale of shares - capital gains or business income - buy back of shares by the borrowers - the object of trading in shares was lacking in as much as the financial...

Assessee company successfully proved genuineness of share capital and share premium received from various private limited companies. Creditworthiness and identity of...

Exemption from payment of property tax under the provisions of the UP Municipal Corporation Adhiniyam, 1959 - The Supreme Court held that, the enemy properties vest in...

Tax authority rejected rectification application filed by taxpayer for zero-rated supply citing violation of principles of natural justice. Court examined impugned...

ITAT affirmed CIT(A)'s order, rejecting revenue's appeal. The tribunal upheld the lower authority's findings on multiple legal issues: (1) assessee qualified for...

Recovery of tax dues - Right of auction purchaser of the property - Since the petitioner had purchased in the auction sale conducted by the bank under the provisions of...

Assessee followed joint venture model for sharing revenue with collaborators as per franchise agreement. Assessee recorded all revenues, incurred expenditure, and shared...

ITAT ruled that alternative accommodation charges paid to tenants under SRA scheme do not constitute consideration for share in land/building under development agreement....

Quick Updates: