Exemption u/s 54B mandates - Capital gain on transfer of land ...

Income Tax

February 17, 2015

Exemption u/s 54B mandates - Capital gain on transfer of land used for agricultural purposes - This section nowhere talks that the land must be used for agricultural purpose at any time in the preceding two years from the date when the transfer took place. - AT

View Source

← Previous Next →

Exemption u/s 54B mandates - Capital gain on transfer of land ...

Income Tax

February 17, 2015

You may also like:

Exemption u/s 54B - Agriculture land - vacant land - if the AO comes to the conclusion that the impugned lands are agricultural lands, still the capital gain arising on...

Deduction u/s 54B - denial - sale of agricultural land standing in assesee's name - purchases of land in name of son and daughter-in-law - disallowed the exemption u/s 54B - HC

Deduction u/s 54B – agricultural land - It is not the fault of the assessee if rained lands are not actually put to use during the drought - AT

Exemption u/s 54B - LTCG was invested in the purchase of another agricultural land in the name of his wife - The term “assessee” is qualified by the expression...

Deduction u/s 54B - Capital gain on transfer of land used for agricultural purposes - The crucial point of controversy thus, needs to be restored to the files of Ld....

LTCG - withdrawal of exemption u/s 54B - sale of new land within lock in period - In the case on hand, we are concerned with the capital gains with respect to the first...

Deduction u/s 54B - capital gain on sale of one agricultural land - investment made in two agricultural land - deduction is not allowable in respect of two separate...

LTCG - no capital gains arises on the sale of agricultural land even though purchaser purchased the property with an intention of selling it for non-agricultural purposes - AT

Gains arising on sale of Agricultural land – Assessee might not have paid agricultural income-tax but is paying land revenue and village records clearly showed the land...

Penalty u/s 271(1)(c) - profits from sale and purchase of agricultural land shown as capital gain instead of profits and gains from business - No penalty - AT

Quick Updates: