Delhi HC denies Widow's Income Tax Exemption claim against Purchase of Two Flats
A widow recently had her claim to capital gains tax exemption under Section 54F of the Income Tax Act disallowed by the Delhi High Court because she...
![Construction on Land Owned by Taxpayers Mother is Vaild: ITAT Grants full S. 54F Deduction, Accepts Approved Valuers Report [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Chandigarh-Income-Tax-News-Section-54F-Valuers-Report-Taxscan.jpg "Construction on Land Owned by Taxpayers Mother is Vaild: ITAT Grants full S. 54F Deduction, Accepts Approved Valuers Report [Read Order]")
![Addition of ₹24.48 Lakh for Unexplained Cash Deposits: ITAT allows ₹15.48 Lakh, confirms ₹9 Lakh as Unexplained [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-Unexplained-Cash-Deposits-Income-Tax-Appellate-Tribunal-Income-Tax-taxscan.jpg "Addition of ₹24.48 Lakh for Unexplained Cash Deposits: ITAT allows ₹15.48 Lakh, confirms ₹9 Lakh as Unexplained [Read Order]")
![Capital Gain Account Scheme towards Cost of Improvement of Residential Property Acquired is Eligible for Deduction u/s 54F of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/ITAT-ITAT-Delhi-Income-Tax-Residential-Property-Acquired-TAXSCAN.jpg "Capital Gain Account Scheme towards Cost of Improvement of Residential Property Acquired is Eligible for Deduction u/s 54F of Income Tax Act: ITAT [Read Order]")
![Utilization of Capital Gain within one year from taking possession of New Flat: ITAT allows Deduction u/s 54 and 54F [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Utilization-of-Capital-Gain-capital-gain-Flat-ITAT-Deduction-income-tax-taxscan.jpg "Utilization of Capital Gain within one year from taking possession of New Flat: ITAT allows Deduction u/s 54 and 54F [Read Order]")
Income Tax Exemption can’t be allowed on Failure of Deposit in Capital Gains Scheme Account before ITR Due Date: ITAT [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the income tax exemption under section 54 cannot be allowable if the assessee failed to deposit the amount in the capital gains...
![Income Tax Exemption can’t be allowed on Failure of Deposit in Capital Gains Scheme Account before ITR Due Date: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Tax-Exemptions-Tax-Scan.jpg "Income Tax Exemption can’t be allowed on Failure of Deposit in Capital Gains Scheme Account before ITR Due Date: ITAT [Read Order]")
Section 54F Benefit not available If Assessee failed to deposit the unutilized amount in Capital Gains Scheme Account: ITAT [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the benefit of section 54F of the Income Tax Act is not available to the assessee on failure of depositing the unutilized...
![Section 54F Benefit not available If Assessee failed to deposit the unutilized amount in Capital Gains Scheme Account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/deduction-Section-54F-Taxscan.jpg "Section 54F Benefit not available If Assessee failed to deposit the unutilized amount in Capital Gains Scheme Account: ITAT [Read Order]")
Capital Gain Exemption can be availed for two Residential Houses as per Pre-Amended Provision of S. 54: ITAT [Read Order]
In Mr. Ravi Shankar vs. The Assistant Commissioner of Income Tax, Mumbai bench of Income Tax Appellate Tribunal (ITAT) proclaimed in its recent order that pre-amended capital gain under section 54 of...
![Capital Gain Exemption can be availed for two Residential Houses as per Pre-Amended Provision of S. 54: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/02/Capital-Gain-Taxscan.jpg "Capital Gain Exemption can be availed for two Residential Houses as per Pre-Amended Provision of S. 54: ITAT [Read Order]")
Capital Gain Exemption u/s 54F is available on Residential House Constructed on a Commercial Plot: ITAT [Read Order]
The Jaipur bench of Income Tax Appellate Tribunal (ITAT) comprising of Judicial Member Vijay Pal Rao has held that Capital Gain Exemption is available on residential house constructed on a commercial...
![Capital Gain Exemption u/s 54F is available on Residential House Constructed on a Commercial Plot: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/05/Deduction-Residential-Property.jpg "Capital Gain Exemption u/s 54F is available on Residential House Constructed on a Commercial Plot: ITAT [Read Order]")
Purchasing Two separate houses in different localities would disentitle Assessee from claiming Capital Gain Exemption u/s 54: ITAT [Read Order]
Bangalore bench of the ITAT, on Wednesday, observed that purchasing of two properties in different localities cannot be claim tax exemption under sec 54 of the Income Tax Act, 1961. The Assesse sold...
Deduction u/s. 54/54F is available for Purchase of Residential Property in USA prior to 2014 Amendment: ITAT Mumbai [Read Order]
In ITO v. Nishant Lalit Jadhav, the Mumbai Income Tax Appellate Tribunal (ITAT) held that the provisions of Section 54/54F of Income Tax Act prior to its amendment in 2014, w.e.f. 01/04/015, does not...
Exemption u/s 54F can be availed in respect of more than one flats if they are in same address: Madras HC [Read Judgment]
In the recent case CIT v. Gumanmal Jain, the division bench of the Madras High Court ruled that the assessee is entitled to get benefit of section 54F of Income Tax Act if the Flats are indifferent...