![ITAT allows LTCG Exemption u/s 54 on Sale of Old Flat as Possession of New Flat falls Within Prescribed Period [Read Order]](https://images.taxscan.in/h-upload/2025/08/26/500x300_2080801-itat-ltcg-exemption-old-flat-new-flat-prescribed-period-taxscan.webp "ITAT allows LTCG Exemption u/s 54 on Sale of Old Flat as Possession of New Flat falls Within Prescribed Period [Read Order]")
ITAT allows LTCG Exemption u/s 54 on Sale of Old Flat as Possession of New Flat falls Within Prescribed Period [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) allowed the claim of Long Term Capital Gains ( LTCG )exemption under section 54 of Income...
![ITAT Allows Rs. 1.3 Crore LTCG Exemption to Husband-Wife Despite Sale of 2 Properties [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/ITAT-ITAT-Mumbai-LTCG-Exemption-ITAT-allows-LTCG-exemption-TAXSCAN.jpg "ITAT Allows Rs. 1.3 Crore LTCG Exemption to Husband-Wife Despite Sale of 2 Properties [Read Order]")
![Denial of Exemption u/s 54 for Lack of Documents: ITAT Sets Aside CIT(A) Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-Exemption-for-Lack-of-Documents-Income-tax-taxscan.jpg "Denial of Exemption u/s 54 for Lack of Documents: ITAT Sets Aside CIT(A) Order [Read Order]")
Registration of Family Settlement not required for Computing Capital Gains: Punjab & Haryana HC [Read Order]
The Punjab & Haryana High Court in a recent case, has held that family settlement is not required to be registered for computing capital gains.The court held that even if the existence of the...
ITAT deletes Rs. 6 lakh penalty u/s 271D due to bonafide claim of LTCG on part of assessee [Read Order]
The Bangalore Bench of the Income Tax Appellate Tribunal ( ITAT ) deletes Rs. 6 lakh penalty on the assessee over an alleged violation of Section 269SS of the Income Tax Act, 1961. In this case,...
![ITAT deletes Rs. 6 lakh penalty u/s 271D due to bonafide claim of LTCG on part of assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Bangalore-ITAT-deletes-bonafide-claim-LTCG-Section-269SS-of-the-Income-Tax-Act-Income-Tax-Appellate-Tribunal-ITAT-news-ITAT-updates-taxscan.jpg "ITAT deletes Rs. 6 lakh penalty u/s 271D due to bonafide claim of LTCG on part of assessee [Read Order]")
Taxpayer fails to Construct Residential House within Prescribed Time: ITAT disallows Section 54 Deduction under Income Tax Act [Read Order]
In a recent ruling, the Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) disallowed the claim of deduction under Section 54 of the Income Tax Act,1961, because the taxpayer failed construct...
![Taxpayer fails to Construct Residential House within Prescribed Time: ITAT disallows Section 54 Deduction under Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Delhi-ITAT-disallows-Section-54-Income-Tax-Act-Taxpayer-Fails-to-Construct-Residential-House-taxscan.jpeg "Taxpayer fails to Construct Residential House within Prescribed Time: ITAT disallows Section 54 Deduction under Income Tax Act [Read Order]")
Claim as Residential House having no Basic Amenities for Habitation is invalid: ITAT upholds Disallowance u/s 54 of Income Tax Act [Read Order]
The New Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) found that the claim of a residential house having no basic amenities for habitation is invalid and upheld the disallowance under...
![Claim as Residential House having no Basic Amenities for Habitation is invalid: ITAT upholds Disallowance u/s 54 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-income-tax-act-tax-news-Residential-houses-TAT-disallowance-TAXSCAN.jpg "Claim as Residential House having no Basic Amenities for Habitation is invalid: ITAT upholds Disallowance u/s 54 of Income Tax Act [Read Order]")
Taxpayer should construct a Residential House within Period of three years from date of Transfer of old House: ITAT disallowed u/s 54 of Income Tax Act [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) has disallowed the taxpayer's claim under Section 54 of the Income Tax Act, 1961 stating that the taxpayer failed to construct a...
![Taxpayer should construct a Residential House within Period of three years from date of Transfer of old House: ITAT disallowed u/s 54 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Section-54-Income-Tax-Act-Residential-House-Construction-Taxpayer-Claim-Old-House-Transfer-taxscan.jpg "Taxpayer should construct a Residential House within Period of three years from date of Transfer of old House: ITAT disallowed u/s 54 of Income Tax Act [Read Order]")
