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Can Joint Ownership of Residential House Disqualify Section 54F Claim? Case Analysis of ITAT Delhi Ruling
The Section 54F of the Income Tax Act, 1961, provides exemption from long-term capital gains ( LTCG ) if the proceeds from the sale of a long-term...
![Late Deposit of Unutilized Capital Gain: ITAT allows Tax Benefit to Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Late-Deposit-Unutilized-Capital-Gain-ITAT-Tax-Benefit-to-Assessee-Taxscan.jpg "Late Deposit of Unutilized Capital Gain: ITAT allows Tax Benefit to Assessee [Read Order]")
![Capital Gain benefit available to Only One House Post-Amendment to Section 54F: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/07/Capital-Gain-benefit-ITAT-Capital-Gain-Taxscan.jpg "Capital Gain benefit available to Only One House Post-Amendment to Section 54F: ITAT [Read Order]")
![Past Electricity and Water Bills can’t be Proof for Construction of House for the purpose of Capital Gain Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/07/capital-gain-deduction-House-electricity-bills-Taxscan.jpg "Past Electricity and Water Bills can’t be Proof for Construction of House for the purpose of Capital Gain Deduction: ITAT [Read Order]")
![Capital Gain Deduction claim can be invoked during Re-Assessment if Assessee failed to file Returns: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/07/Capital-Gain-Tax-Taxscan.jpg "Capital Gain Deduction claim can be invoked during Re-Assessment if Assessee failed to file Returns: ITAT [Read Order]")
![Capital Gain Exemption not allowable to House purchased in Wife’s Name: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Capital-Gain-Exemption-House-purchased-ITAT-taxscan.jpg "Capital Gain Exemption not allowable to House purchased in Wife’s Name: ITAT [Read Order]")
Capital Gain Exemption u/s 54F cannot be denied on ground of Joint Ownership in Two Residential Flats: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai held that capital gain exemption u/s 54F cannot be denied on grounds of joint ownership in two residential flats. The assessee, Manoj Tekriwal, is...
![Capital Gain Exemption u/s 54F cannot be denied on ground of Joint Ownership in Two Residential Flats: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Capital-gain-exception-joint-ownership-residential-flats-ITAT-taxscan.jpeg "Capital Gain Exemption u/s 54F cannot be denied on ground of Joint Ownership in Two Residential Flats: ITAT [Read Order]")
Furniture and Fixtures purchased along with New House will get Benefit of s. 54F If they are Integral part of Purchase: ITAT [Read Order]
In Rajat B Mehta v. ITO, the Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) held that the exemption under section 54F of the Income Tax Act 1961 can be extended to furniture and fixtures...
![Furniture and Fixtures purchased along with New House will get Benefit of s. 54F If they are Integral part of Purchase: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/02/New-House.jpg "Furniture and Fixtures purchased along with New House will get Benefit of s. 54F If they are Integral part of Purchase: ITAT [Read Order]")