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![Income from Sale of land assessable under Capital Gains and not Business Income: ITAT allows Deduction u/s 54 of income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Income-sale-land-assessable-Capital-gains-business-Income-ITAT-deduction-income-Tax-Act-TAXSCAN.jpg "Income from Sale of land assessable under Capital Gains and not Business Income: ITAT allows Deduction u/s 54 of income Tax Act [Read Order]")
Income from Sale of land assessable under Capital Gains and not Business Income: ITAT allows Deduction u/s 54 of income Tax Act [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) set aside the order of Principal Commissioner of Income-Tax (PCIT) and allowed tax...
![Deduction u/s 54 of Income Tax Act not allowable as Capital Gain as is not Taxable in Current Assessment Year: ITAT directs to examine Previous A.Y [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Deduction-Income-Tax-Act-Capital-Gain-Taxable-Current-Assessment-ITAT-taxscan.jpg "Deduction u/s 54 of Income Tax Act not allowable as Capital Gain as is not Taxable in Current Assessment Year: ITAT directs to examine Previous A.Y [Read Order]")
![IT Deduction available on purchase of Two Residential Houses even If Investment is not made out of Capital Gain: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/02/New-House.jpg "IT Deduction available on purchase of Two Residential Houses even If Investment is not made out of Capital Gain: ITAT [Read Order]")
![Houseboat purchased for using as Residential House not eligible for Capital Gain Exemption: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/12/House-Boat-ITAT-Taxscan.jpg "Houseboat purchased for using as Residential House not eligible for Capital Gain Exemption: ITAT [Read Order]")
![Capital Gain from Depreciable Assets is LTCG for claiming Exemption u/s 54: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/09/Capital-Gain-Taxscan.jpg "Capital Gain from Depreciable Assets is LTCG for claiming Exemption u/s 54: ITAT [Read Order]")
Sec 54 Benefit allowable for Investment made in New Residential Property within One year before Sale of Old Asset: ITAT [Read Order]
The Kolkata bench of Income Tax Appellate Tribunal (ITAT) reversed the decision of lower appellate authority in restricting the deduction under Section 54 of Income Tax Act regarding investment made...
![Sec 54 Benefit allowable for Investment made in New Residential Property within One year before Sale of Old Asset: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/10/Residential-Property-ITAT-Taxscan.jpg "Sec 54 Benefit allowable for Investment made in New Residential Property within One year before Sale of Old Asset: ITAT [Read Order]")
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...
![Deduction u/s. 54/54F is available for Purchase of Residential Property in USA prior to 2014 Amendment: ITAT Mumbai [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/05/Deduction-Residential-Property.jpg "Deduction u/s. 54/54F is available for Purchase of Residential Property in USA prior to 2014 Amendment: ITAT Mumbai [Read Order]")