Deduction u/s 54 - belated filing of return - amount of capital ...

Claim Section 54F Deduction on Capital Gains for New Assets Even with Late Filing u/s 139(4.

January 31, 2022

Case Laws Income Tax AT

Deduction u/s 54 - belated filing of return - amount of capital gain invested for new asset purchased or construction of new asset - It is clear that the deduction under section 54F of the Act can be claimed to the extent of amount of capital gain utilized till the filing of the return under Section 139(4) of the Act. - AT

View Source

← Previous Next →

Deduction u/s 54 - belated filing of return - amount of capital ...

Claim Section 54F Deduction on Capital Gains for New Assets Even with Late Filing u/s 139(4.

January 31, 2022

Case Laws Income Tax AT

You may also like:

Deduction u/s 54F and 54B - investments were been made after the due date for filing of return of income u/s 139(1) but before the filing of return u/s 139(4) - when the...

Capital gain - period of limitation for deposit the amount in Capital Gain Account Scheme - Sub-Section (4) of Section 139 provides extended period of limitation as an...

Disallowing the claim of exemption u/s 54-F - Belated filing of ITR - capital gain was not deposited by assessee before due date of filing return of income under section...

Capital gain from sale of commercial property - intra-head adjustment of loss - Benefit of carry forward of long term capital loss on the sale of shares for the current...

Deduction u/s 54 - Proportionate deduction - Denial of deduction as capital gains arising out of sale of original asset was not deposited in the Capital Gain Deposit...

LTCG deductions claimed u/s 54B are allowed if the capital gain is utilized for purchasing a new asset before the date of furnishing the return of income u/s 139,...

The assessee, an NRI and resident of USA, transferred a capital asset and derived capital gain. The asset comprised rights and interests acquired through an assignment...

Deduction u/s 54B - LTCG - Assessee technically may have defaulted in not filing the return under section 139(4). But, however, utilized the capital gains for purchase...

Section 80P deduction claim filed in a return submitted in response to notice u/s 142(1) is valid. The Income Tax Act does not mandate that the return must be filed u/ss...

Penalty u/s.271AAB - Belated filing of regular return after search - Penalty cannot be levied u/s.271AAB of the Act, in respect of income disclosed in regular return of...

Claim of deduction of long term capital gain claimed u/s 54 - delayed filing of ITR - No deposit in capital gain account scheme account - in such case claim is allowable...

Exemption u/s 54F - belated filing of return - extended period u/s 139(4) has to be considered for the purpose of utilization of the capital gain amount - AT

Deduction u/s 80P - there was a few-month delay in filing the ITR by the assessee and ITR was filed within due date permissible u/s 139(4) of the Act, in which the claim...

Deduction u/s 54EC - short capital gain arising on sale of depreciable asset - it cannot be said that section 50 converts long-term capital asset into a short-term...

Deduction u/s. 54F - If, the capital gain amount is utilized before the due date of filing of return of income u/s. 139 of the Act i.e. 31-03-2014 u/s. 139(4) of the Act....

Quick Updates: