Section 54F

Section 54F

Bombay H.C :The ITAT was justified in treating the gain arising from the sale of capital asset as Long Term Capital Gain without appreciating the fact that mere letter of allotment does not lead to creation of proper and effective right over the capital asset sought to be acquired, but only on execution of an agreement spelling out all the exact terms and conditions for acquisition

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High Court Of Bombay Pr.CIT vs. Vembu Vaidyanathan Section 54F Asst. Year 2009-10 Akil Kureshi & M. S. Sanklecha, JJ. […]

Section 54F, Section 263

Madras H.C : Where as per survey report, two adjacent flats purchased by assessee formed a single residential unit, mere fact that subject flats were purchased by two separate sale deeds and had separate electricity meter connections, would not necessarily lead to conclusion that there were two separate residential units and, thus, assessee’s claim for deduction under section 54F could not be rejected on said basis

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High Court Of Madras Abhijit Bhandari vs. Pr.CIT -5, Chennai Section 54F, 263 Assessment year 2008-09 Rajiv Shakdher, J. Writ

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