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Purchase of Furniture, AC to Make New House Habitable Eligible for Capital Gain Deduction: ITAT [Read Order]

Kalyani B. Nair

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT), recently observed that the purchase of Furniture, Air Conditioner to make new house...

ITAT allows Sec 54F Relief for Additional Floors of New House [Read Order]

IT Deduction available on purchase of Two Residential Houses even If Investment is not made out of...

Capital Gain of Multiple Years can be claimed against Purchase of New House: ITAT [Read Order]

No Tax Relief for Sale of Old House If New One purchased in Wife & Daughters’ Name: ITAT [Read...

Tax Benefit available for Property purchased in Wife’s Name: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Hyderabad bench has recently held that the tax benefit under section 54 of the Income Tax Act is allowable to an assessee on purchasing a new house in the...

Housing Loan for New House can’t be a reason to Deny Tax Benefit u/s 54: ITAT [Read Order]

While quashing the impugned order of CIT (A), The Kolkata bench of Income Tax Appellate Tribunal ( ITAT )held that benefit of section 54 of the Income Tax Act cannot be denied merely on ground that...

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...