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The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that deduction under Section 54 of the Income Tax Act cannot be disallowed merely for not depositing long-term capital gain (LTCG) that. ....
The Income-tax Appellate Tribunal (ITAT), Delhi bench, has quashed a revisionary order passed by the Principal Commissioner of Income-tax. This order is likely to support many taxpayers who are facing a similar situation. Learn more. ....
The new residential house is to be purchased either one year before or two years after the transfer of the original property that was sold. Or it should be constructed within three years from the date of sale of the original property. The time limit that is available for investment under section 54, is longer than the due date of filing the I-T return. ....
ITAT: Under section 54 of the Income-tax (I-T) Act, long-term capital gains (LTCGs) arising to an individual from sale of a residential property are exempt to the extent that such gains are invested towards purchase or construction of a new residential house, within the prescribed time. ....
India Business News: The Income-tax Appellate Tribunal (ITAT) in Delhi has overturned a revisionary order by the Principal Commissioner of Income-tax, stating that the non ....