Tag Archives: Section 54

Sale proceeds of land appurtenant to residential house is entitled to section 54 relief: ITAT

IN THE ITAT DELHI BENCH ‘SMC’ Adarsh Kumar Swarup v. Deputy Commissioner of Income-tax, Circle-1, Muzafarnagar H.S. SIDHU, JUDICIAL MEMBER IT APPEAL NO.1228 (DELHI) OF 2016 [ASSESSMENT YEAR 2011-12] MARCH  28, 2017 M.P. Rastogi, Adv. for the Appellant. Ms. Bedobina Chaudhuri, Sr. DR for the Respondent. ORDER 1. The Assessee has filed this Appeal against… Read More »

Advance given to builder qualify for Section 54 Investment

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH  “A” BEFORE SHRI G.S. PANNU, ACCOUNTANT MEMBER AND SHRI SANJAY GARG, JUDICIAL MEMBER I.T.A. No. 7512/Mum/2013 Assessment Year : 2010-11 Shri Hasmukh N. Gala, Vs. Income Tax Officer 20(1)(3), Facts of the case The relevant facts are that the assessee is an individual who is engaged in… Read More »

section 54 registration of documents is not necessary

Whether the registration of documents is necessary , where investment in construction of new building is made within three years of sale of property for claiming the benefit of section 54 ? where investment in construction of new building is made within three years of sale of property, benefit of section 54 is to be… Read More »

Section 54 Gair mumking shed is residential house

Q :Whether Gair mumking shed is residential house and  capital gain arising on its sale is eligible for section 54 ? Assessee was entitled to exemption under section 54 in respect of long-term capital gain on sale of a farm house which in revenue records was mentioned as gairmumkin shed and house and income from letting… Read More »