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Income Tax - Article Explains all about Section 54, Section 54B, Section 54D, Section 54G/ 54GA in case of shifting to SEZ, Section 54EC, Section 54F and Section 54GB...
Read MoreIncome Tax - The Articles discusses about Basic conditions, Exemption Under Section 54B of Income Tax Act, 1961 available to Individual and HUF against Capital Gain Arising from Transfer of Agricultural Land by investment of Capital Gain amount in another land or in Capital Gains Deposit Account Scheme....
Read MoreIncome Tax - Section 2(42A) - Reduction in holding period in case of immovable property, being land or building or both, to qualify as long term capital asset - Consequential amendments to be made in sections 54, 54B, 54D and 54F...
Read MoreNitinkumar Desai Vs ACIT (ITAT Ahmedabad) - Where assessee after, investing capital gain in purchase of new agricultural land within prescribed time, harbored a bona fide belief that there was not any tax liability of capital gain and substantiated his explanation with relevant evidence, imposition of penalty under section 271(1)(c) was unjus...
Read MoreAshok Kisan Bahirat (HUF) & Anr Vs ITO (ITAT Pune) - If intention of Parliament was to include HUF prior to the said date then the amendment would have been carried out in respect of section 54B as well along with section 54. Therefore, amended provisions of section 54B were not applicable retrospectively and assessee-HUF was not entitled to exempti...
Read MoreShri Laxmi Narayan Vs Commissioner of Income Tax (Rajasthan High Court) - On the ground of investment made by the assessee in the name of his wife, in view of the decision of Delhi High Court in Sunbeam Auto Ltd. and other judgments of different High Courts,the word used is assessee has to invest it is not specified that it is to be in the name of assessee....
Read MoreMahadev Balai Vs. ITO (Rajasthan High Court) - In all these appeals common question of law and facts are involved hence they are decided by this common judgment....
Read MoreMajid Khan Nisar Khan Vs ITO (ITAT Pune) - Majid Khan Nisar Khan Vs ITO (ITAT Pune) Revenue records clearly show that there was cultivation on the land. In so far as determination of two years period is concerned, the period of two is to be determined from date of sale and not the immediately two preceding financial years. The date of sale o...
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Nitinkumar Desai Vs ACIT (ITAT Ahmedabad) -
Ashok Kisan Bahirat (HUF) & Anr Vs ITO (ITAT Pune) -
Shri Laxmi Narayan Vs Commissioner of Income Tax (Rajasthan High Court) -
Mahadev Balai Vs. ITO (Rajasthan High Court) -
Majid Khan Nisar Khan Vs ITO (ITAT Pune) -
CIT Vs Shri Dinesh Verma (Punjab & Haryana Court High Court) -
A.C.I.T. Vs Smt Sudha Jajodia (ITAT Kolkatta) -
