![AAR affirms Newtown Kolkata Development Authority is a ‘Local Authority’ and entitled to Exemption on Service [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/03/Newtown-Kolkata-Development-Authority-GST-Taxscan.jpg "AAR affirms Newtown Kolkata Development Authority is a ‘Local Authority’ and entitled to Exemption on Service [Read Order]")
AAR affirms Newtown Kolkata Development Authority is a ‘Local Authority’ and entitled to Exemption on Service [Read Order]
The West Bengal Authority of Advance Ruling (AAR) affirmed that Newtown Kolkata Development Authority (NKDA) is a ‘Local Authority’ and is entitled to...
![Exemption can’t be denied to Trust merely on ground of Non-Submission of Form 10 Online: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/03/site-image3-9-5.jpg "Exemption can’t be denied to Trust merely on ground of Non-Submission of Form 10 Online: ITAT [Read Order]")
![No GST Exemption to Agricultural Products from Foreign Markets: AAAR [Read Order]](https://www.taxscan.in/wp-content/uploads/2019/03/Agricultural-Produces-ITAT-Taxscan.jpg "No GST Exemption to Agricultural Products from Foreign Markets: AAAR [Read Order]")
![Exemption can’t be denied to Education Trust because of providing Hostel, Transportation and Mess facilities: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2019/05/Hostel-Service-GST-AAR-Taxscan.jpg "Exemption can’t be denied to Education Trust because of providing Hostel, Transportation and Mess facilities: ITAT [Read Order]")
![Unregistered Agreement to Sale is sufficient to prove ‘Transfer’ was within One Year for granting S. 54 Exemption: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/09/Unregistered-Agreement-Deduction-Taxscan.jpg "Unregistered Agreement to Sale is sufficient to prove ‘Transfer’ was within One Year for granting S. 54 Exemption: ITAT [Read Order]")
Apportioning R & D Expenditure and ESOP cost to Units which Claimed Exemption u/s 10B, 80IB and 80IC not justified: ITAT [Read Order]
The Hyderabad Bench of the Income Tax Appellate Tribunal ( ITAT ) in the case of Dr. Reddy’s Laboratories Ltd. v. DCIT holding in favor of the assessee was of the view that Tax Authorities were not...
![Apportioning R & D Expenditure and ESOP cost to Units which Claimed Exemption u/s 10B, 80IB and 80IC not justified: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/07/ITAT-Exemption-Taxscan.jpg "Apportioning R & D Expenditure and ESOP cost to Units which Claimed Exemption u/s 10B, 80IB and 80IC not justified: ITAT [Read Order]")
![Exemption Can’t be denied for Mere Technical Mistake: Rajasthan HC [Read Judgment]](/images/placeholder.jpg "Exemption Can’t be denied for Mere Technical Mistake: Rajasthan HC [Read Judgment]")
Sec 54 Exemption is allowable even When Assessee Invested more than the Sale Proceeds of the Industrial Gala for purchase of Two Flats: ITAT [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal recently said that the exemption under Section 54 of the Income Tax Act is allowable even when assessee has invested more than the sale proceeds of...
![Sec 54 Exemption is allowable even When Assessee Invested more than the Sale Proceeds of the Industrial Gala for purchase of Two Flats: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/02/Flats-Taxscan.jpg "Sec 54 Exemption is allowable even When Assessee Invested more than the Sale Proceeds of the Industrial Gala for purchase of Two Flats: ITAT [Read Order]")
Assessee is entitled to Exemption u/s 54 even if he holds more than one Residential Property: ITAT [Read Order]
Hyderabad bench of Income Tax Appellate Tribunal (ITAT) has held that an assessee is entitled to claim exemption under section 54F of the Income Tax Act even if he holds more than one residential...
![Assessee is entitled to Exemption u/s 54 even if he holds more than one Residential Property: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/05/Deduction-Residential-Property.jpg "Assessee is entitled to Exemption u/s 54 even if he holds more than one Residential Property: ITAT [Read Order]")
A Co-Owner is Entitled to get full Benefit of S. 54F when Entire Cost of New Property was borne by him: ITAT Mumbai
ITAT also held that Assessee cannot be subjected to Capital Gain Tax when the property was co-owned with his wife and she had paid capital gain separately for her share of the house. In Jithendra V...
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...
![Exemption u/s 54F can be availed in respect of more than one flats if they are in same address: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/08/Tax-Exemptions-Tax-Scan.jpg "Exemption u/s 54F can be availed in respect of more than one flats if they are in same address: Madras HC [Read Judgment]")
Benefit of S. 54F is not available when Assessee has not started construction in the Purchased Plot within the Stipulated Time: Allahabad HC
In Ajay Kumar v. ITO, the division bench of the Allahabad High Court held that exemption under section 54F of the Income Tax Act will not be available when the assessee has not started construction in...
