Exemption Under Section 54EC of Income Tax Act, 1961- Amendment, Articles, News Notifications, Judgments and Detailed Analysis at one place
Income Tax : This guide explains the taxation of capital gains, computation methods, capital assets, and transfer provisions under the Income-t...
Income Tax : Learn the eligibility, investment conditions, exemption limits, timelines, and withdrawal provisions for capital gains exemptions ...
Income Tax : The guide explains Sections 54 to 54GB, showing how taxpayers can claim capital gains tax exemptions through reinvestment, subject...
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 : 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 Chandigarh ITAT held that deduction under Section 54 cannot be restricted merely because the new residential property is joint...
Income Tax : The appellate authority had rejected the exemption claim on limitation grounds, but ITAT held that the assessee’s explanation re...
Income Tax : The Surat ITAT held that for assessment years prior to AY 2013-14, the DVO had no authority under Section 55A to reduce the fair m...
Income Tax : Eempt income, which were disallowed under Section 14A could not be automatically added back to compute the book profit for Minimum...
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 : 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...
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.
The ITAT ruled that property sold by a discontinued partnership must be taxed in the firm’s hands, not its former partners, emphasizing correct ownership for capital gains assessment.
The Tribunal held that section 54 relief cannot be denied merely because the new property was purchased in the spouse’s name. It ruled that actual investment of capital gains is the key requirement.
ITAT Mumbai held that transaction of sale of shares is not business income since assessee was never involved in the business affairs of the company. Further, consideration is treated as capital gain inspite of non-compete fee since no specific amount assigned towards non-compete fee in share purchase agreement.
