54 b exemption
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 April 2013
we have sale land on 17.10.2009 for rs.34,00,000. out of which amount received in advance is rs.12,00,000.
investment made in april-may 2009 is rs.15,00,000 and investment and investment after sale deed is rs.15,00,000.
so please tell me can i get exempation for amount invested from amount received in advance.
investment made in april-may 2009 is rs.15,00,000 and investment and investment after sale deed is rs.15,00,000.
so please tell me can i get exempation for amount invested from amount received in advance.
15 April 2013
From literal construction of you can not claim exemption. But according to judgement in case of Ramesh Narhari Jakhadi v. ITO [1992] 41 ITD 368 (Pune-Trib.), assessee can claim the benefit of exemption by extending Board's Circular.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- GST ON TRAVELLING BILLS
- Rental income of jointly held property
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
