![ITAT allows LTCG Exemption u/s 54 of Income Tax Act in spite of Filing Belated ITR [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-Income-Tax-Act-ITAT-ITAT-Ahmedabad-ITR-Filing-TAXSCAN.jpg "ITAT allows LTCG Exemption u/s 54 of Income Tax Act in spite of Filing Belated ITR [Read Order]")
ITAT allows LTCG Exemption u/s 54 of Income Tax Act in spite of Filing Belated ITR [Read Order]
In a recent ruling, the Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) decreed that filing of Belated Income Tax Returns does not...
![Kerala HC allows Income Tax Deduction to South Indian Bank on Long-Term Finance Provided for Purchase of Residential House [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-Deduction-Kerala-High-Court-South-Indian-Bank-Income-Tax-Long-Term-Finance-Provided-Purchase-of-Residential-House-taxscan.jpg "Kerala HC allows Income Tax Deduction to South Indian Bank on Long-Term Finance Provided for Purchase of Residential House [Read Order]")
![Failure of Assessee to offer Income on sale of Residential House neither in Original ITR or Return filed in response to Notice u/s 148: ITAT sustains Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Assessee-to-offer-Income-on-sale-of-Residential-House-ITR-Return-response-to-Notice-ITAT-TAXSCAN.jpg "Failure of Assessee to offer Income on sale of Residential House neither in Original ITR or Return filed in response to Notice u/s 148: ITAT sustains Addition [Read Order]")
![Claim on Cost of Construction shall be in accordance with Supplementary Development Agreement: ITAT deletes Addition of differential Cost [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Claim-Construction-Supplementary-Development-Agreement-ITAT-Cost-TAXSCAN.jpg "Claim on Cost of Construction shall be in accordance with Supplementary Development Agreement: ITAT deletes Addition of differential Cost [Read Order]")
![Capital Gain Exemption shall not be Denied on Residential House Constructed on Small Area of Land: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Capital-Gain-exemption-Denied-on-Residential-house-constructed-Residential-house-constructed-Small-Area-of-Land-Land-ITAT-Income-Tax-taxscan.jpg "Capital Gain Exemption shall not be Denied on Residential House Constructed on Small Area of Land: ITAT [Read Order]")
Deduction u/s 54F not Allowable if Assessee has More Than a Residential House at the Time of Claiming the Deduction: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Hyderabad Bench, has recently, in an appeal filed before it, held that deduction u/s 54F is not allowable, if assessee has more than a residential house at...
![Deduction u/s 54F not Allowable if Assessee has More Than a Residential House at the Time of Claiming the Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Deduction-Residential-House-taxscan.jpeg "Deduction u/s 54F not Allowable if Assessee has More Than a Residential House at the Time of Claiming the Deduction: ITAT [Read Order]")
![Water Supplies Activities done for Residential House attracts 18 % GST: AAR [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Water-Supplies-Activities-Residential-House-GST-AAR-Water-Supplies-taxscan.jpg "Water Supplies Activities done for Residential House attracts 18 % GST: AAR [Read Order]")
Setback to Investment in Residential Houses: Union Budget 2023 Proposes Capital Gain Exemption Limit u/s 54 and 54F [Read Finance Bill]
In the Union Budget 2023, the Union Finance Minister Nirmala Sitharaman has proposed the exemption limit of the Capital Gain under section 54 and Section 54F of the Income Tax Act, 1961. According...
Capital Gain Exemption u/s 54 allowable on amount Invested in Construction of Residential House: ITAT [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) comprising N K Billaiya (Accountant Member) and Astha Chandra (Judicial Member), upholding an order of the CIT(A), held in favor of the...
![Capital Gain Exemption u/s 54 allowable on amount Invested in Construction of Residential House: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Capital-gain-Exemption-Residential-House-ITAT-taxscan.jpeg "Capital Gain Exemption u/s 54 allowable on amount Invested in Construction of Residential House: ITAT [Read Order]")
![Cost of New Residential House includes Cost of Land Purchased u/s 54: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Cost-residential-house-cost-of-land-ITAT-taxscan.jpeg "Cost of New Residential House includes Cost of Land Purchased u/s 54: ITAT [Read Order]")
HUF eligible for Capital Gain Exemption for Property purchased in the Joint Name of Members: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the Hindu Undivided Family (HUF) is eligible to claim capital gain exemption under section 54F of the Income Tax Act, 1961 for the...
![HUF eligible for Capital Gain Exemption for Property purchased in the Joint Name of Members: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/HUF-Capital-Gain-Exemption-Property-purchased-ITAT-taxscan-.jpeg "HUF eligible for Capital Gain Exemption for Property purchased in the Joint Name of Members: ITAT [Read Order]")
Multiple Flats in Different Floors cannot be treated as Single Residential House for computing Capital Gain Exemption: ITAT grants Partial Relief [Read Order]
The Income Tax Appellate Tribunal (ITAT), Cuttack bench has held that the multiple flats in different floors of the same building cannot be treated as a single residential house for the purpose of...
![Multiple Flats in Different Floors cannot be treated as Single Residential House for computing Capital Gain Exemption: ITAT grants Partial Relief [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Flats-Residential-House-Capital-Gain-Exemption-ITAT-Taxscan.jpg "Multiple Flats in Different Floors cannot be treated as Single Residential House for computing Capital Gain Exemption: ITAT grants Partial Relief [Read Order]")