Home Highlights January 2013 Year 2013 This

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1. Exemption u/s 54B - LTCG was invested in the purchase of another agricultural land in the name of his wife - The term “assessee” is qualified by the expression...

2. Exemption u/s 54B - Agriculture land - vacant land - if the AO comes to the conclusion that the impugned lands are agricultural lands, still the capital gain arising on...

3. Deduction u/s 54B - denial - sale of agricultural land standing in assesee's name - purchases of land in name of son and daughter-in-law - disallowed the exemption u/s 54B - HC

4. Deduction u/s. 54B - agricultural land which is purchased prior to the sale of agricultural land - the assessee is not entitled to claim deduction u/s. 54B of the Act...

5. Exemption u/s 54B - agriculture land or not - land was just adjacent to the sea - To carry agricultural operation water is very much required and sea water is not useful...

6. Deduction u/s 54B - assessee purchased agricultural land from the sale proceeds - the impugned land on which Ghas / Grass is shown as per revenue record was in the...

7. Exemption from long term capital gain u/s 54B and 54F - where an appellant satisfies the first condition prescribed under section 54B(1) and at the same time, neither...

8. Deduction u/s 54B - LTCG - Agriculture land purchased in the name Individual on behalf of HUF - Sale of agriculture land owned by HUF - In substance, the HUF is owner of...

9. Revision u/s 263 - as per CIT AO had wrongly allowed the assessee exemption of capital gains claimed u/s 54B - Tribunal found that neither any inquiry was made by the AO...

10. LTCG - exemption u/s 54B - scope of amendment - making HUF eligible for claiming exemption u/s. 54B - assessee being HUF is not eligible for claiming exemption u/s. 54B...

11. Deduction u/s 54B - Benefit of exemption denined on the ground that, the land was sold by the assessee to a developer and ultimately the land would be used for...

12. Revision u/s 264 - benefit u/s 54B denied - land were used for agricultural purposes for two years or not - the factual aspects raised in this writ petition, need to be...

13. Deduction u/s 54B - capital gain on sale of one agricultural land - investment made in two agricultural land - deduction is not allowable in respect of two separate...

14. Exemption claimed u/s 54B - exemption denied as AO concluded there was no agricultural operation carried out the lands in dispute - the assessee has furnished the...

15. LTCG - withdrawal of exemption u/s 54B - sale of new land within lock in period - In the case on hand, we are concerned with the capital gains with respect to the first...