Home Highlights September 2012 Year 2012 This

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1. 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...

2. Deduction claimed u/s 54 - oint owners of the house property having 50% right, title and interest over the property - Since the assessee and her son have jointly...

3. LTCG - denial of a claim of exemption u/s 54 - new residential house property was purchased only after the lapse of two years from the sale of original property - The...

4. Exemption u/s 54 on unregistered property purchased from son of the assessee allowed - transferee gets the right over the property and has become the owner of the...

5. Deduction u/s. 54F - assessee has not become the owner of the property in question - becoming the owner of the property in question is not required for the purpose of...

6. Computation of LTCG - extinguishment of the owner’s rights in the property - Transfer u/s 2(47) - year of assessment - claim of exemption u/s. 54 - the owner’s right to...

7. LTCG - Exemption u/s 54 and 54EC - The property was received by the appellant as a 'gift'. The provision of subsection (1) of Section 49 of the Act is squarely...

8. 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...

9. 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...

10. LTCG - deductions claimed u/s 54 & 54EC - scheduled property acquired through settlement deed executed by the grandfather of the assessee - Since the asset held by the...

11. 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...

12. Exemption u/s.54 - LTCG - the assessee has sold two residential properties and re-invested in one residential property. Hence, entire conditions of Section 54 of the...

13. 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...

14. Exemption u/s 54 - LTCG - assessee has demolished existing residential building before sale - benefit of exemption not available - HC

15. Capital gain computation - whether the amount paid by the buyer to the tenant for the vacation of tenancy can be taxed in the hands of the tenants or owner of the...