![Provisions of S. 54F of Income Tax Act are Benevolent Provisions, requires Liberal Interpretation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Provisions-Income-Tax-Act-Income-Tax-Tax-Benevolent-Provisions-ITAT-taxscan.jpg "Provisions of S. 54F of Income Tax Act are Benevolent Provisions, requires Liberal Interpretation: ITAT [Read Order]")
Provisions of S. 54F of Income Tax Act are Benevolent Provisions, requires Liberal Interpretation: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) recently held that section 54 of the Income Tax Act 1961 are benevolent provisions therefore, requires...
![Capital Gain Exemption u/s 54 Allowable Even If Sale was Completed After Purchase of New Property: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Capital-Gain-Exemption-Capital-Gain-Sale-Purchase-of-New-Property-ITAT-Income-Tax-taxscan.jpg "Capital Gain Exemption u/s 54 Allowable Even If Sale was Completed After Purchase of New Property: ITAT [Read Order]")
![CBDT Extends Time Limit for Compliance to be Made for Claiming Capital Gain Exemption [Read Circular]](https://www.taxscan.in/wp-content/uploads/2023/01/Income-TAX-CBDT-Time-Limit-Capital-Gain-Exemption-Capital-Gain-taxscan.jpeg "CBDT Extends Time Limit for Compliance to be Made for Claiming Capital Gain Exemption [Read Circular]")
![Depositing Unutilized Capital Gain in Deposit Account Scheme: ITAT grants Capital Gain Exemption [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Capital-Gain-Deposit-Scheme-ITAT-Capital-Gain-Exemption-TAXSCAN.jpg "Depositing Unutilized Capital Gain in Deposit Account Scheme: ITAT grants Capital Gain Exemption [Read Order]")
![ITAT allows Capital Gain Exemption on Purchase of New Residential Property upto date of filing of belated Income Tax Return [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/ITAT-Capital-Gain-Exemption-New-Residential-Property-Income-Tax-Return-TAXSCAN.jpg "ITAT allows Capital Gain Exemption on Purchase of New Residential Property upto date of filing of belated Income Tax Return [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]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT), allowed deduction under Section 54 and 54F of the Income Tax Act, 1961 on the ground that Utilization of capital gain within one year...
![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]")
Once Exemption claimed on LTCG by Co-Owner has been accepted, then Capital Gain Exemption u/s 54 allowable for assessee: ITAT [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) has held that when exemption claimed on Long Term Capital Gain (LTCG) by a co-owner has been accepted, then Capital Gain Exemption...
![Once Exemption claimed on LTCG by Co-Owner has been accepted, then Capital Gain Exemption u/s 54 allowable for assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/claimed-LTCG-co-owner-Capital-Gain-Exemption-ITAT-taxscan.jpg "Once Exemption claimed on LTCG by Co-Owner has been accepted, then Capital Gain Exemption u/s 54 allowable for assessee: ITAT [Read Order]")
![Capital Gain Exemption u/s 54 Allowable to More than One Residential Houses: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Capital-Gain-Exemption-Residential-Houses-ITAT-taxscan.jpg "Capital Gain Exemption u/s 54 Allowable to More than One Residential Houses: ITAT [Read Order]")
Statutory Benefit of Capital Gain Exemption cannot be denied for Mere Inclusion of Wife’s Name on Purchase of New Property: Delhi HC quashes Re-Assessment [Read Order]
In a significant ruling, a division bench of the Delhi High Court has held that the statutory benefit under section 54 of the Income Tax Act, 1961 cannot be denied to the assessee merely for the...
![Statutory Benefit of Capital Gain Exemption cannot be denied for Mere Inclusion of Wife’s Name on Purchase of New Property: Delhi HC quashes Re-Assessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Capital-Gain-Exemption-Delhi-HC-Re-Assessment-taxscan.jpeg "Statutory Benefit of Capital Gain Exemption cannot be denied for Mere Inclusion of Wife’s Name on Purchase of New Property: Delhi HC quashes Re-Assessment [Read Order]")
Deduction u/s 54 allowable on Multiple Residential Houses built in same physical location and contiguous place: ITAT [Read Order]
The New Delhi Bench of the Income Tax Appellate Tribunal (ITAT) upheld the CIT(A) order which allowed the deduction under section 54 of the Income Tax Act,1961 on multiple residential houses built in...
![Deduction u/s 54 allowable on Multiple Residential Houses built in same physical location and contiguous place: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/Deduction-multiple-residential-houses-ITAT.jpg "Deduction u/s 54 allowable on Multiple Residential Houses built in same physical location and contiguous place: ITAT [Read Order]")
Newly Purchased Asset was found as Residential Property on Physical Inquiry: ITAT allows Capital Gain Exemption [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the capital gain exemption shall be allowed since it was found on physical inquiry that the new asset purchased is a...
![Newly Purchased Asset was found as Residential Property on Physical Inquiry: ITAT allows Capital Gain Exemption [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Newly-Purchased-Asset-Residential-Property-Physical-Inquiry-ITAT-Capital-Gain-Exemption-Taxscan.jpeg "Newly Purchased Asset was found as Residential Property on Physical Inquiry: ITAT allows Capital Gain Exemption [Read Order]")
![Expenditure towards Repairs to make House habitable deductible from Capital Gain: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/05/Expenditure-capital-gain-House-habitable-deductible-ITAT-Taxscan.jpg "Expenditure towards Repairs to make House habitable deductible from Capital Gain: ITAT [Read Order]")