Deduction claimed u/s 54 - oint owners of the house property ...

Income Tax

January 18, 2023

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 invested the house property and are the joint owners of the house property having 50% right, title and interest over the property, the Assessing Officer is, therefore, correct in restricting the claim of the assessee u/s 54 by making an addition to the total income of the assessee.- AT

View Source

← Previous Next →

Deduction claimed u/s 54 - oint owners of the house property ...

Income Tax

January 18, 2023

You may also like:

Deduction on interest of housing loan u/s 24(b) -AO restricted it to 25% since 75% of the property is belongs to other co-owners - Action of AO is justified - AT

Deduction u/s.54 - Joint ownership in property - assessee was owner of 50% - exemption cannot be denied to the assessee on the ground that assessee did not show any...

IT – the assesse, a lease holder, has exploited the lease rights in the property as an owner – rent is table as Income from house property

Deduction claimed u/s 54F OR 54 - Investment of LTCG - Owning more than one house property - CIT(A) deleted the addition considering the same u/s 54 - Assessee revised...

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...

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...

Income from house property - one is self occupied property and second is vacant property - AO has applied ALV at 7% of book value of the property and computed deemed...

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...

Deduction u/s 54 - investment in two residential property situated at different location - the same Assessee should be held entitled to the benefit of deduction u/s 54 - AT

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...

Quick Updates: