would be exempt under Section 54 of the Income-tax Act and setting aside the order passed by the Commissioner under Section ... entitled to claim exemption under Section 54 of the Act on the ground that the relief under Section 54 of the Act would be available
raised and, therefore, the assessee was not entitled to exemption under Section 54 of the IT Act, 1961."
2. The assessee purchased a plot ... sale of above two plots whereas the assessee claimed exemption under Section 54 of the IT Act, 1961 (for short
grant of exemption under Section 54 of the Act. The assessee did not file any return of income under Section 139(1) . The amount ... relation to interpretation of this very provision, viz. Section 54 holding that benefit under Section 54 can be allowed only in respect
claim exemption under Section 54 . On the other hand the contention on behalf of the assessee is that the term used under Section 54 ... paid Rs. 11,000 under the agreement to her vendor, the assessee is entitled to exemption under Section 54(1) . We further hold that simply
exemption under Section 54 was available only for one house. The assessee had made excess claim of deduction under Section 54, reasons to this effect ... case of Section 23 or Section 53 or Section 54E of the IT Act there is no express restriction under Section 54 to the effect
assessee is entitled for exemption under section 54 in case he complies with the
conditions stipulated under section 54 of the Act. The claim ... exemption u/s 54 ought to have been allowed.
(6) Because the authorities below have erred in not allowing the exemption
Estate Private Limited and
that therefore he was entitled for exemption under Section 54 of the Act
against the entire capital gain on sale ... under :-
2. The issue, which arises for consideration in this appeal is whether the
assessee is entitled to claim exemption under Section 54
Estate Private Limited and
that therefore he was entitled for exemption under Section 54 of the Act
against the entire capital gain on sale ... under :-
2. The issue, which arises for consideration in this appeal is whether the
assessee is entitled to claim exemption under Section 54
state that:
1. Section 54 of the Income Tax, 1961: Allowability of 2
Houses u/s 54-
Section 54 of the Income ... higher
value Whether since amendment to
provision of section 54 restricting
deduction allowed under section 54
22
ITA NO.7906/MUM/2019
accepted the claim of the
assessee for exemption under section 54 of the Act, but, however, he
directed the assessing officer to satisfy himself that ... exemption
under section 54 of the Act and partly sustained the addition under
section 68 of the Act and partly under section
