Section 54 Archives - taxcaselaw.com

Bombay H.C : The return was processed u/S. 143(1) of the Act and returned income was accepted

High Court Of Bombay Amarjeet Thapar vs. ITO Section 2(47), 54, 143(1), 148 Asst. Year 2013-14 Akil Kureshi & M.S. Sanklecha, JJ. Writ Petition No. 3548 of 2018 14th December, 2018 Counsel Appeared: Mihir Naniwadekar, Rohan Deshpande i/by Alisha Pinto for the Petitioner : Sham Walve for the Respondent. AKIL KURESHI, J. We have heard learned …

Madras H.C : Whether any part of the capital gain from transfer of the residential house is exempt from the capital gain tax and if so to what extent

High Court Of Madras C. Aryama Sundaram vs. CIT Indira Banerjee, CJ & Abdul Quddhose, J. Section 143(1), 129, 142(1), 54 Case (Appeal) No. 520 of 2017 6th August, 2018 Counsel appeared: R. Balasubramanian, Maya J Nichane for the Petitioner.: V. Pushpa, M. Swaminathan for the Respondent INDIRA BANERJEE, CJ. This appeal is against an order …

AAR-New Delhi : Where applicant purchases a residential house abroad in assessment year 2012-13 out of capital gain on sale of inherited property in India within two years from date of sale, he has to be allowed benefit of deduction under section 54

Authority For Advance Rulings, New Delhi Dipankar Mohan Ghosh, In re Section : 54 Assessment Year : 2012-13 R.S. Shukla, Incharge Chairman And Ashutosh Chandra, Member Revenue A.A.R. No. 1356 of 2012 December Â 22, 2017 RULING Ashutosh Chandra, Member Revenue – The applicant is an individual and a holder of British Passport, settled and residing in …

Karnataka H.C : Sale consideration received by the assessee would be entitled to benefit under Sec.54 of the Income Tax Act, even though the sale was not completed and possession handed over to the assessee within two years as per Sec.54 of the Income Tax Act, is perverse, arbitrary and contrary to law

High Court Of Karnataka CIT, Bangalore vs. Mrs. Shakuntala Devi Section 54 Assessment Year 2003-04 Jayant Patel And Aravind Kumar, JJ. IT Appeal No. 340 Of 2009 September 28, 2016 JUDGMENT Aravind Kumar, J. – Revenue has preferred this appeal questioning the correctness and legality of the order passed by Income Tax Appellate Tribunal, Bangalore Bench …

S.C : the non urban area has not been declared to be so by any general or special order of the Central Govt

Supreme Court Of India Fibre Boards (P.) Ltd. vs. CIT, Bangalore Section 54G A.K. Sikri And Rohinton Fali Nariman, JJ. Civil Appeal Nos. 5525 – 5526 Of 2005 August 11, 2015 JUDGMENT Rohinton Fali Nariman, J. – The assessee, a private limited company, had an industrial unit at Majiwada, Thane, which was a notified urban area. …

Karnataka H.C : the finding of the Assessing Officer under section 154 of the Act that assessee is not entitled for benefit under section 54 and is entitled only under section 54F and 54EC of the Act as accepted by the assessee is a debatable issue and hence proceedings under section 154 are incorrect and consequently recorded a perverse finding

High Court Of Karnataka CIT And Another vs. Pradeep Kar Section 54 Asst. Year 2002-03 Vineet Saran & S. Sujatha, JJ. ITA NO.317 & 318/2009 19th March, 2015 Counsel appeared: K V Aravind, Adv., for the Appellant. : S R Anuradha, Adv., for the Respondent. JUDGMENT: 1. The revenue has filed these appeals challenging the order …

Karnataka H.C : The assessee’s petition has been admitted by the Hon’ble High Court of Karnataka

High Court Of Karnataka CIT & Anothers vs. Dr. Harsha N. Biliangady Section 271(1)(c), 54, 54F, 260A Asst. Year 2008-09 Vineet Saran & S. Sujatha, JJ. ITA No. 292 OF 2014 10th March, 2015 Counsel appeared: K V Aravind, Adv. for the Appellant: None for the Respondent. VINEET SARAN, J: This is an appeal filed by …

Delhi H.C : the amounts spent by the assessee were towards acquisition of a capital asset, during the relevant year, and that the amount spent towards improvements was deductible

High Court Of Delhi CIT-XVI vs. Ram Gopal Section : 2(14), 2(47) and 54 Assessment Year : 2009-10 S. Ravindra Bhat And R. K. Gauba, JJ. IT Appeal No. 70 Of 2015 February 9, 2015 ORDER S. Ravindra Bhat, J. – The Revenue is aggrieved by the order of Income Tax Appellate Tribunal (ITAT) in respect …

S.C : Assessee having executed an agreement to sell in respect of a house property, purchased a new residential property within one year from date of agreement to sell and subsequently sale deed could not be executed within prescribed time due to an order passed by competent court, in such peculiar facts, a valid transfer took place within meaning of section 2(47) by even executing agreement to sell and, consequently, relief under section 54 was to be granted to assessee in respect of purchase of new residential property subject to fulfilment of other conditions

Supreme Court Of India Sanjeev Lal vs. CIT, Chandigarh Section : 54, 2(47) Assessment Year : 2005-06 Anil R. Dave And Shiva Kirti Singh, JJ. Civil Appeal Nos. 5899-5900 Of 2014 July 1, 2014 JUDGMENT Anil R. Dave, J. – Leave granted. 2. As facts of both the appeals are similar, at the request of the …

Bombay H.C : Acquisition of flats had been done independently but eventually they were a single unit and house for purpose of residence, claim under section 54 could not be denied

High Court Of Bombay CIT -21, Mumbai Vs. Devdas Naik Section 54 Assessment Year 2007-08 S.C. Dharmadhikari And B.P. Colabawalla, JJ. IT Appeal No. 2483 Of 2011 June 10, 2014 JUDGMENT 1. The Appeal questions the order passed by the Income Tax Appellate Tribunal confirming that of the Commissioner of Income Tax (Appeals). 2. The concurrent …

Category: Section 54