Exemption Under Section 54EC of Income Tax Act, 1961- Amendment, Articles, News Notifications, Judgments and Detailed Analysis at one place
Income Tax : The new law treats gains from depreciable assets as short-term capital gains for all purposes, not merely for computation. This ef...
Income Tax : This article explains how Section 54EC allows exemption from long-term capital gains through investment in notified bonds. The key...
Income Tax : Learn about capital gains tax exemptions under Sections 54 to 54GB of the Income Tax Act, conditions for eligibility, and withdraw...
Income Tax : Comprehensive summary of capital gains—definition, classification, computation, exemptions, reinvestment reliefs, and procedures...
Income Tax : This report provides a consolidated overview of the critical monetary threshold limits stipulated under various sections of the In...
Income Tax : Representation against Extension of time limit under section 54 to 54GB without extension of Income Tax Return due date Vidarbha I...
Corporate Law : It has been decided to close the 54 EC capital gain bond issue 2022-23 of NHAI with Immediate effect. Accordingly, please ensure t...
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 : In furtherance of the existing proviso to section 54EC, a new proviso has been inserted to clarify that the investment made by an ...
Income Tax : The tribunal held that the holding period of the previous owner must be included when property is acquired through inheritance or ...
Income Tax : The ITAT Bangalore held that cash received as part of sale consideration for immovable property does not automatically attract pen...
Income Tax : The Tribunal ruled that compensation and hardship allowance received during redevelopment are capital receipts and cannot be taxed...
Income Tax : The Tribunal held that land cost must be allocated based on saleable/built-up area under the JDA, not total land area. It directed...
Income Tax : The issue was whether an appeal could be dismissed solely for delay without examining merits. The Tribunal held that where delay i...
Income Tax : Ministry of Finance notifies IREDA bonds issued post-July 9, 2025, as long-term specified assets under Section 54EC for income tax...
Income Tax : HUDCO bonds issued after April 1, 2025, notified as long-term assets under Section 54EC for capital gains exemption, usable for in...
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 : The Government of India in IEBR for FY 2022-23 have not mandated NHAI to raise funds from the market. Therefore. NHAI shall not is...
Income Tax : Central Government notifies Indian Railway Finance Corporation Limited 54EC Capital Gains Bond issued by Indian Railway Finance Co...
The new law treats gains from depreciable assets as short-term capital gains for all purposes, not merely for computation. This effectively removes exemption benefits previously allowed through judicial interpretation under the old regime.
The tribunal held that the holding period of the previous owner must be included when property is acquired through inheritance or trust devolution. As a result, gains were treated as long-term and exemption under Section 54EC was allowed, while Section 54 was remanded for verification.
The ITAT Bangalore held that cash received as part of sale consideration for immovable property does not automatically attract penalty under Section 271D if reasonable cause is established under Section 273B.
This article explains how Section 54EC allows exemption from long-term capital gains through investment in notified bonds. The key takeaway is that timely bond investment offers a safe alternative to property reinvestment.
The Tribunal ruled that compensation and hardship allowance received during redevelopment are capital receipts and cannot be taxed as income from other sources.
The Tribunal held that land cost must be allocated based on saleable/built-up area under the JDA, not total land area. It directed adoption of a higher per-sq-ft land cost while recomputing capital gains.
The issue was whether an appeal could be dismissed solely for delay without examining merits. The Tribunal held that where delay is bona fide, technical rejection is improper and the matter must be decided on merits.
Jaipur Tribunal observed that the son had no independent income, and the purchase was made solely from the assessee’s funds. Consequently, restriction of exemption to 50% by the CIT(A) was set aside, confirming full Section 54F relief.
The ITAT Jaipur held that joint ownership of a new property does not bar full exemption under Section 54F if the assessee funds the purchase and retains control over the asset.
ITAT Hyderabad condoned a 292-day delay in filing an appeal due to the assessee’s age, dependence, and overseas travel. The case is remanded for fresh adjudication of capital gains, ensuring fair opportunity and justice.
