Exemption u/s 54 - sale of house constructed on leased land - as ...

Section 54 Tax Exemption: Selling a House on Leased Land Qualifies if Building or Land is Transferred Separately.

April 26, 2019

Case Laws Income Tax HC

Exemption u/s 54 - sale of house constructed on leased land - as per revenue in order to claim benefit of u/s 54, must also transfer the land appurtenant thereto - what is important is that there should be a transfer of capital asset being a building or land appurtenant thereto and being a residential house - The word 'or' cannot be read as 'and' in the context of section 54

View Source

← Previous Next →

Exemption u/s 54 - sale of house constructed on leased land - as ...

Section 54 Tax Exemption: Selling a House on Leased Land Qualifies if Building or Land is Transferred Separately.

April 26, 2019

Case Laws Income Tax HC

You may also like:

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...

LTCG - Period of holding of asset - deduction u/s 54 - So far as the residential building/house constructed on the said land is concerned, it was constructed in ay:...

Exemption u/s 54 / 54F - While section 54 of the Act deals with capital gains arising out of transfer of buildings or lands appurtenant thereto and being residential...

The Appellate Tribunal allowed the assessee's claim for tax exemption under section 54 of the Income Tax Act, despite initially claiming under section 54F. The dispute...

Deduction u/s 54 - investment in two different houses - The Hon’ble Court’s opinion is that, the physical structure of a new residential house whether it is literal or...

Levy of GST - activity of disposal of developed plots of land to allottee members - If the applicant sells the land after developing by way of erecting a civil structure...

Difference between Fee and Tax - water and sewerage taxes levied and collected - legislative competence of State Legislature to levy the tax under the provisions of...

Deduction u/s. 54 - construction of house on land taken on lease - assessee is owner of the superstructure constructed by utilizing the capital gain and this is clear...

Deduction u/s 54F or u/s 54 - mere sale of land instead of land and building - The cost of the property declared by the assessee includes an amount for making the house...

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...

Levy of GST - providing residential land on lease basis for which lease premium charged/received - Since the entry grants the exemption to a leased / rented residential...

Wealth tax assessment - the assessee cannot avail exemption for a plot of land, even if it is having an area of less than 500 sq. mts or less, if he had already claimed...

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...

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

Exemption form GST - upfront premium payable towards the services of leasing of the land for industrial purposes - Notification No. 12/2017 Central Tax (Rate) - The...

Quick Updates: