Not SRO, Cost of Construction of Flats by Builder must be treated as Sale Consideration of the Land Owner for Computing Capital Gain: ITAT
In a significant ruling, the ITAT, Hyderabad bench held that for computing Long Term Capital Gain of an assessee who transferred his land under a...
![Date of Final Occupation should be considered for Calculating the period of eligibility for Capital Gain Exemption: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/09/Capital-Gain-Taxscan.jpg "Date of Final Occupation should be considered for Calculating the period of eligibility for Capital Gain Exemption: ITAT [Read Order]")
AO is bound to Grant Relief u/s 54F If Assessee Omitted to Claim it in the Returns and Produces details during Proceedings: ITAT Raipur
In Amit Kumar Banzal v. ITO, the ITAT Raipur held that the benefit of Section 54F of the Income Tax Act can be given to the assessee if he omitted to claim it in the returns and later, produces the...
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...
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...
Deduction on Capital Gains u/s 54F can be Extended to Wife having Independent Income: ITAT Hyderabad [Read Order]
In ACIT v. Sri B. Surendra Choudary, the division bench of the ITAT, Hyderabad bench held thatthe new property registered in the name of assessee’s wife is eligible to get deduction under section 54F...
![Deduction on Capital Gains u/s 54F can be Extended to Wife having Independent Income: ITAT Hyderabad [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/deduction-Section-54F-Taxscan.jpg "Deduction on Capital Gains u/s 54F can be Extended to Wife having Independent Income: ITAT Hyderabad [Read Order]")
Investing in Multiple Flats will not deny the benefit of exemption from Long term Capital Gain Tax: Madras HC [Read Judgment]
The single bench of the Madras High Court, recently held that the benefit of exemption from Long term Capital Gain Tax under section 54F of the Income Tax Act, 1961 can be claimed by an assessee for...
![Investing in Multiple Flats will not deny the benefit of exemption from Long term Capital Gain Tax: Madras HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Madras-High-Court-Tax-Scan-1.jpg "Investing in Multiple Flats will not deny the benefit of exemption from Long term Capital Gain Tax: Madras HC [Read Judgment]")
Deduction u/s 54F cannot be denied on Ground that the Assessee Failed to get the Possession of the Property within the prescribed Time Limit: ITAT Mumbai [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal in recently ruled that the deduction under section 54F of the Income Tax Act, 1961 cannot be denied to the assessee for the reason that he failed...