Advanced Search Results

Commissioner of Income-tax Vs. Indulal C. Kamdar

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 45, 53 and 54

Reported in : (1994)116CTR(Bom)523; [1995]214ITR143(Bom)

interpretation of section 54 of the Income-tax Act, 1961, as it stood prior to its amendment by the Finance Act, 1982. There is a sharp difference of opinion between the view taken by the High Courts of Madras and

Prakash S/O Timaji Dhanjode Vs. Income Tax Officer

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act - Sections 2(7), 22 to 27, 32, 45, 54, 54F, 54F(1), 54F(4), 139(2), 156, 221 and 271(1); Finance Act, 1982; Transfer of Property Act - Sections 6

Reported in : (2008)220CTR(Bom)249; [2009]312ITR40(Bom)

Therefore, all these concepts are inter-linked. The scheme and purpose of Section 54F, which was inserted by the Finance Act, 1982 with effect from 01.04.1983 i.e. from the Assessment Year 1983-84 is with a view to encourage house construction. … holding the same in trust for and on behalf of the deceased Timaji?....NO3. Whether for qualifying exemption under Section 54 of the I.T. Act is it necessary and obligatory to have investment made in residential house in the

J.K. Cotton Spinning and Weaving Mills and Another Vs. Union of India ...

Court : Delhi

Subject : Excise

Acts : Central Excise Rules, 1944 - Rules 9, 9(2), 10, 11, 47, 49, 49A, 53, 54,,73A, 173K and 173Q; Central Excise Act, 1944 - Sections 3, 4, 6, 8, 9, 11, 11A, 11B, 37 and 49; Finance Act, 1982 - Sections 51

Reported in : 1983LC117D(Delhi); 1983(12)ELT239(Del); ILR1983Delhi518

may be, immediately before such consumption or utilisation.' 8. The result of enacting of Section 51 of the Finance Act, 1982 was that the amended rules 9 and 49 set out above, are deemed to have come into force … kept in such form as the Collector may in any particular case or class of cases allow. Rule 54 speaks of how monthly returns have to be submitted. There are other similar rules which deal with this

Commissioner of Income Tax Vs. N. Kannaiyiram.

Court : Chennai

Subject : Direct Taxation

Reported in : (1998)147CTR(Mad)267

he was assessed in the status of the HUF.10. Further, the legislature also amended the provision by the Finance Act, 1987, and by the said amendment, the benefit of exemption is also available to the sale by HUF. … coparcener ìof HUF Ratio : Sole surviving coparcener of an HUF was entitled to claim the exemption under section 54 with regard to capital gains arising out of sale of a residential house as the income from the … not in dispute which are as under : For the asst. yr. 1982-83, the assessee was assessed in the status of an HUF (non specified)

Commissioner of Income-tax Vs. D. Rani

Court : Andhra Pradesh

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 45, 53, 54, 54B, 54D, 54E, 256 and 263

Reported in : [1996]218ITR724(AP)

effect from April 1, 1974, and it remained in the statute book till it was amended by the Finance Act, 1982, with effect from April 1, 1983. As the question relates to the assessment year 1982-83, we shall refer … was justified in law in holding that the short-term capital gains of Rs. 48,700 was not assessable under section 54 in the hands of the assessee even though the assessee resided for a period of seven months in

Raghunath Dass Sethi Vs. Commissioner of Income Tax

Court : Punjab and Haryana

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 54; Finance Act, 1987

Reported in : (2004)191CTR(P& H)114; [2005]277ITR341(P& H)

justified in holding that Section 54 applies exclusively to individuals only and not to HUFs, particularly when the Finance Act, 1982, made a change in the law with regard to the applicability of Section 54 to individuals w.e.f. 1st

K.G. Vyas Vs. Seventh Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (1986)16ITD195(Mum.)

for the assessee, contended that the provisions of Section 54 as it stood before the amendment by the Finance Act, 1982, with effect from 1-4-1983 would be applicable to the facts of the present case, that the said provision

Krishnagopal Nagpal Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

Reported in : (2004)82TTJ(Pune.)481

by the assessee, in the new property purchased or constructed by him. This condition was removed by the Finance Act, 1982 applicable from asst.yr. 1983-84. The circular of the Board relied upon by the learned counsel relates to the … the facts and in the circumstances of the case, the learned AO erred in denying the exemption under Section 54 in respect of the seven row, houses constructed by the appellant. This exemption was claimed by the appellant

C.N. Anantharam Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT

Subject : Direct Taxation

Reported in : (2005)2SOT475(Bang.)

deposit.Lot of changes has been effected from the introduction of section 54 by the Finance Acts, such as Finance Act, 1982, Finance Act, 1985 and Finance Act, 1986. The scope of the amendment and effect to these amendments have

The Commissioner of Income-tax, Delhi Vs. K.C. Sahni (Huf)

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 54 and 256(1)

Reported in : [2000]246ITR299(Delhi)

3rd august, 1977 indicated the position in the manner we have dealt with. The amendments made by the Finance Act, 1982 made the position very clear. That was the state of law up to assessment, year 1987-88. That being … 'Whether on the facts and in the circumstances of the case, the Tribunal was justified in holding that Section 54 of the Incometax Act, 1961 applied to both an individual and a HUF.'2. Factual position essentially is as