Live Help
Want to know more
Enter the details and we'll call you soon

Name :

Company Name :

City :

Mobile No. :

Email id :

  

Thank you for your details



Our Executive will reach you shortly.

Your Session Will Expire in   seconds.
If you do not wish to log-out, choose 'Let me continue'
Reset SessionCancel Session
 

Deeming fiction of sec. 50C won't apply while claiming relief under sec. 54F: ITAT

October 26, 2018[2018] 98 taxmann.com 305 (Mumbai - Trib.)
1079 Views

IT : Where assessee had sold a property which was used for commercial purposes and on which depreciation was also claimed and said property was held for a period of more than thirty six months and further assessee had purchased a residential flat from consideration received, assessee was eligible for deduction under section 54F on capital gains arising from sale of property

IT : Where assessee was a partner in a firm and Assessing Officer had made addition of Rs. 1.83 crore in income of assessee under section 69B on ground that during assessment year 2012-13 there was a difference of Rs. 1.89 crore in capital account balance of assessee in his account books vis-à-vis account books of firm, since assessee had explained difference by stating that his share of profit from firm for assessment year 2012-13 was not included in his account books, impugned difference stood duly and fully explained and, therefore, addition was not justified

read more

taxmann.com
Payment
Best view in 1140 x 768