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 February 2017 Year 2017 This

Revision u/s 263 - claim of exemption u/s 54 - the purchases of ...

Income Tax

February 28, 2017

Revision u/s 263 - claim of exemption u/s 54 - the purchases of land do not entitle the assessee for the exemption u/s 54 - Therefore, we fail to understand when the land was purchased earlier to the start of construction how this can trigger the provisions of Section 263 - AT

View Source

 


 

You may also like:

  1. 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

  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. 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

  4. Revision u/s 263 - Assessee is entitled for deduction u/s 54 since there is transfer of residential house property as observed hereinabove and for this part of the...

  5. Revision u/s 263 - expenditure on purchased CDs on Jain Religion - AO had carried out detailed enquiries and taken a plausible view and accepted the assessee's treatment...

  6. Validity of Revision u/s 263 - Allowing Exemption u/s 54 instead of 54F - Source of LTCG is not from residential house and since the assessee had earned capital gain on...

  7. Exemption u/s 54 is available on purchase of car parking space along with flat - AT

  8. Refund of excess amount lying to the credit of electronic cash ledger of the petitioner - applicability of proviso to sub-section (1) of Section 54 or sub-section (1) of...

  9. Revision u/s 263 - interpretation of ‘a residential house’ u/s 54 - AO with due application of mind, after making requisite inquiries, accepted assessee’s claim u/s 54...

  10. Revision u/s 263 by CIT - Profit on sale of agricultural land - As observed by the Pr. CIT, and, rightly so, as the A.O had failed to verify the maintainability of the...

 

Quick Updates:Latest Updates