Deduction u/s.54F - 5 properties which were purchased by the ...

Court Rules Assessee Can Claim Deduction u/s 54F for Multiple Properties as Single Residential Unit.

May 24, 2017

Case Laws Income Tax AT

Deduction u/s.54F - 5 properties which were purchased by the assessee by DRT auction wherein clubbed the same as one property - Assessee shall be granted with deduction u/s.54F as the investment in entire property to be considered as a single residential unit, since the consideration received from sale of capital asset was so invested. - AT

View Source

← Previous Next →

Deduction u/s.54F - 5 properties which were purchased by the ...

Court Rules Assessee Can Claim Deduction u/s 54F for Multiple Properties as Single Residential Unit.

May 24, 2017

Case Laws Income Tax AT

You may also like:

LTCG - deduction u/s 54F - as pursuant to the JDA, assessee had received multiple residential units and not a single residential unit - The Tribunal observed that prior...

This is a summary of a legal case involving deduction u/s 54F of the Income Tax Act for investment in residential property. The key points are: The assessee invested...

Validity of reopening an assessment beyond four years from the end of the relevant assessment year, denial of deduction u/s 54F, and the addition on the ground of owning...

Disallowance of exemption claimed u/s 54F - nature of the property as residential in nature - It does not make difference whether the property has been shown as...

The assessee claimed exemption/deduction u/s 54F on account of investing long-term capital gains in a new residential house. The PCIT disallowed the claim, considering...

The High Court held that the phrase 'a residential house' in Section 54F of the Income Tax Act should be interpreted strictly to mean a single residential unit. The...

Claim of deduction u/s 54/54F - claim for two units - two residential units constructed by the Developer for the Assessee is “a” (one) residential house only - Board...

Long-term capital gains deduction u/s 54F can be claimed for investment in a residential property not solely owned by the assessee. The assessing officer's sole...

Assessee purchased four flats constituting single residential unit within stipulated time period u/s 54F. Despite separate identification numbers, flats were merged and...

Deduction u/s 54F is not available to an assessee who owns more than one house property at the time of purchasing a new property. The assessee, despite jointly...

Applicability of Section 64(1) and Section 54F of the Income Tax Act. Section 64(1) allows for the inclusion of a dependent spouse's income in the assessee's taxable...

LTCG - Rejection of deduction claimed u/s 54F - Deduction u/s 54F of the Act only induces an assessee to make investment in residential house property. If the assessee...

Disallowance u/s 54F - Investment of Sale consideration for claiming exemption on LTCG - Advance was given for purchase of new residential property but the transaction...

The case pertains to the determination of the date of "purchase" for claiming deduction u/s 54F of the Income Tax Act. The issue revolves around whether the assessee has...

Joint ownership of multiple residential properties at the time of sale of the original asset does not disqualify the assessee from claiming deduction u/s 54F of the...

Quick Updates: