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 April 2012 Year 2012 This

Exemption u/s 54F - land purchased for construction of house but ...


Taxpayer Qualifies for Section 54F Exemption Despite Construction Delay Due to Court Stay on Land Purchase.

April 9, 2012

Case Laws     Income Tax     AT

Exemption u/s 54F - land purchased for construction of house but stayed by the court - the entire amount spent by the assessee in purchasing the land should be construed as amount invested in purchase/construction of residential house - AT

View Source

 


 

You may also like:

  1. ITAT upheld taxpayer's claim for LTCG deduction u/s 54F despite delayed possession of new property. While assessee made full payment exceeding capital gains within...

  2. ITAT upheld taxpayer's claim for exemption under section 54B regarding capital gains from sale of agricultural land. Evidence showed consistent agricultural income in...

  3. 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...

  4. ITAT allowed taxpayer's appeal, finding cash payments for land purchase were genuine business transactions. The tribunal determined payments were made out of commercial...

  5. Disallowance u/s 40A(3) - cash payment made by the assessee for purchase of land - issue of disallowance of expenses does not arise as the amount paid for purchase of...

  6. Capital gain arising on transfer of land - STCG arising out of the transfer of non-agricultural land - real owner - The appellant asserts that the land was purchased on...

  7. 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...

  8. The Appellate Tribunal upheld the addition u/s 68 for alleged bogus Long Term Capital Gains due to off-market cash purchase of shares. The taxpayer's claim for deduction...

  9. Exemption u/s. 54F - LTCG on sale of jewellery - assessee has invested the full consideration of sale of jewellery in the purchase of the plot of land - The AO is...

  10. Exemption u/s.54F - construction of new residential house on land purchase of two parts one before sale of assets - If a plot is purchased in contemplation of ensuing...

  11. 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...

  12. Capital asset or Business asset - assessee had purchased the land for the purpose of constructing flats on it - Various reasons given by CIT(A) to treat the land as...

  13. Exemption u/s 54B - Since the land sold has been proven to be used for agriculture purpose in the preceding two years and the land purchased by the assessee has been...

  14. Condonation of delay - delay of 280 days - sufficient cause - The Tribunal noted that the delay was due to the callous and lackadaisical approach of the appellant in not...

  15. Exemption u/s 11 - benefit denied on delay in filling the audit report - The Appellate Tribunal acknowledged the delay in filing Form 10B but noted that the issue of...

 

Quick Updates:Latest Updates