Income Tax : A consolidated guide to Income-tax Act threshold limits for AY 2026-27 covering exemptions, deductions, TDS, TCS, compliance and p...
Income Tax : ITAT held that Section 54 exemption must be examined separately for each residential house sold. Aggregating gains from multiple t...
Income Tax : Learn the exemptions available under Sections 54 to 54GB of the Income-tax Act, including eligible investments, timelines, exempti...
Income Tax : This article examines conflicting judicial views on whether capital gains exemption is available when a new residential house is p...
Income Tax : Section 54 grants exemption on long-term capital gains from the sale of a residential house because the proceeds are reinvested in...
Income Tax : Representation against Extension of time limit under section 54 to 54GB without extension of Income Tax Return due date Vidarbha I...
CA, CS, CMA, Income Tax : We have not noticed any heed being extended towards various issues and possible solutions we have proposed through those represent...
Income Tax : KSCAA has requested to Hon’ble Minister of Finance to extend various time limits under section 54 to 54GB of the Income-tax Act,...
Income Tax : All India Federation of Tax Practitioners (CZ) has requested CBDT that due date of filing return of income u/s 139(1) for all the ...
Income Tax : Direct Taxes Committee of ICAI has Request(s) for extension of various due dates under Income-tax Act, 1961 especially Tax Audit R...
Income Tax : ITAT Kolkata condoned appeal delay, set aside the CIT(A)'s order, and remanded the assessment for fresh adjudication after grantin...
Income Tax : ITAT held that Section 54 permits exemption where capital gains from more than one residential house are invested in a single resi...
Income Tax : ITAT held that exemption under Sections 54/54F cannot be denied where sale proceeds are invested in a residential house within the...
Income Tax : The ITAT held that Section 54 exemption must be examined separately for each residential house sold. The benefit cannot be restric...
Income Tax : The Tribunal held that the Assessing Officer exceeded the scope of limited scrutiny by treating capital gains as business income w...
CA, CS, CMA : The ICAI Disciplinary Committee reprimanded CA Jayant Ishwardas Mehta for professional misconduct involving an incorrect income t...
Income Tax : For claiming exemption Section 54 to 54 GB of the Act, for which last date falls between 01st April. 2021 to 28th February, 2022 m...
Income Tax : Vide Income Tax Notification No. 35/2020 dated 24.06.2020 govt extends Due date for ITR for FY 2018-19 upto 31.07.2020, Last...
Income Tax : Notification No. 44/2012-Income Tax In exercise of the powers conferred by sub-section (2) of section 54, sub-section (2) of secti...
In W.P.No.6541 of 2022, the petitioner has challenged the Circular No.125/44/2019 dated 18.11.2019 issued by the third respondent and for a further direction to the first respondent to reconsider the refund claim on its merits.
ITAT Mumbai dismisses ITO’s appeal against Pamela Pritam Ghosh, upholding Section 54 exemption for property purchase in Australia before the 2014 amendment.
Andhra Pradesh High Court held that notification no. 9 of 2022, Central Tax (Rate) is effective only from 18.07.2022 and hence refund on account of inverted duty structure is admissible for period prior to 18.07.2022 and restricted for period after 18.07.2022.
ITAT held that the Allotment of New Flat did not fall within the scope of Section 56(2)(x), as the new flat was received in exchange for the old one and not as a gift or at inadequate consideration.
ITAT Bangalore held that the assesse is entitled to claim deduction u/s. 54 of the Act if the assesses able to establish the fact that the construction was commenced within the period prescribed of 3 years under the Income Tax Act.
Jharkhand High Court held that rejection of refund of statutory pre-deposit merely because refund application was filed beyond section 54 of the Income Tax Act not justified as refund of pre-deposit is vested right of an assessee.
The petitioner is inter-alia, engaged in the manufacture and sale of edible oil. According to the petitioner, the rate of tax on output supplies made by the petitioner exceeds the rate of tax on input supplies.
Bombay High Court held that registered person making a zero rated supply under LUT may claim refund of unutilized credit including that of Compensation Cess. Accordingly, refund of compensation cess granted and appeal is accordingly allowed.
ITAT Lucknow upholds denial of Section 54 exemption as investment in new property was made after the due date. Cites judicial precedents in support of ruling.
Learn key tax rulings on Section 54/54F exemptions for property sales, including land size, appurtenant land, property use, and agricultural land considerations.
