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 March 2019 Year 2019 This

Exemption u/s 54 - assessee purchased the new residential house ...

Income Tax

March 4, 2019

Exemption u/s 54 - assessee purchased the new residential house within the time period stipulated in Sec.54 but possession was not taken - Asssessee was duly entitled for claim of exemption under the said statutory provision irrespective of the fact that possession was not taken..

View Source

 


 

You may also like:

  1. 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...

  2. IT Capital Gains Exemption u/s 54, residential house, Construction of four flats, It has to be construed only as ‘a residential house’, exemption allowed

  3. Exemption u/s 54 - assessee has invested in three residential house properties at three different places - scope of amendment - whether exemption is available in respect...

  4. LTCG - deduction u/s 54 denied - Despite the assessee's claim of having constructed a residential property within the specified timeframe, a physical inspection revealed...

  5. LTCG - Deduction u/s 54 - Profit on sale of property used for residence - assessee was already in the possession of the residential house at the time of purchase of the...

  6. Deduction u/s 54 - LTCG invested in buying two residential units - the assessee would only entitle to the benefit of section 54, 1) if the assessee invested the LTCG...

  7. 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...

  8. Entitlement to exemption u/s 54F - amount is not directly invested in purchasing of the villa - deposit of money by the assessee inter-alia in mutual fund prior to...

  9. Benefit of section 54 - Expenditure incurred on improvement/ renovation of the new residential house for the purpose of deduction under section 54 allowed - AT

  10. Denial of the exemption u/s 54 - Nature of property sold - as far as shops are concerned, even where they are built on a residential plot of land (land use not being...

 

Quick Updates:Latest Updates