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 August 2015 Year 2015 This

Claim of exemption under section 54 denied - such amount shall ...

Income Tax

August 31, 2015

Claim of exemption under section 54 denied - such amount shall be charged under section 45 as income of the previous year, in which the period of three years from the date of the transfer of the original asset expires - AT

View Source

 


 

You may also like:

  1. LTCG - Exemption u/s 54 and 54EC - The property was received by the appellant as a 'gift'. The provision of subsection (1) of Section 49 of the Act is squarely...

  2. Nature of income on sale of flat – Exemption u/s 54 claimed - income is in the nature of business, therefore, the deduction u/s 54 not applicable - AT

  3. Denial of the benefit claimed u/s 54 EC - exemption under section 54 EC is available even when the part of capital gain is invested in specified long-term asset - AT

  4. 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

  5. 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...

  6. Deduction u/s 54 - assessee has utilized other funds (apart from sale consideration) for constructing residential house and for this reason only he cannot be denied...

  7. Claim of deduction u/s 54 of the Act - Two flats acquired under different agreements though single kitchen and used as one single unit - exemption allowed - HC

  8. Disallowing the exemption claimed u/s 54 - Mere nonresidential use subsequently would not render the property ineligible for benefit u/s 54F, if it is otherwise a...

  9. 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...

  10. Long term capital gain - exemption / deduction u/s 54 - Alternate claim out of two investment in residential properties - AT

 

Quick Updates:Latest Updates