Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Page of 4814
Press 'Enter' after typing page number.
6541 to 6560 of 96262 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Where long-term capital gains from sale of a residential house...
Capital gains exemption: payment for plot, architect fees and bona fide commencement of construction can satisfy utilisation requirement and secure relief.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Where long-term capital gains from sale of a residential house were applied to purchase of a plot, payment of architect fees and deposits, and bona fide commencement of construction within the statutory three-year window, such application constitutes 'utilisation' of capital gains for the purpose of the exemption. The piece treats the exemption as beneficial, relies on precedent holding that advances and commencement of construction satisfy the utilisation requirement even if physical completion and plan sanction occur after three years, and concludes exemption should be allowed on proof of investment and commencement.
Where long-term capital gains from sale of a residential house were applied to purchase of a plot, payment of architect fees and deposits, and bona fide commencement of construction within the statutory three-year window, such application constitutes 'utilisation' of capital gains for the purpose of the exemption. The piece treats the exemption as beneficial, relies on precedent holding that advances and commencement of construction satisfy the utilisation requirement even if physical completion and plan sanction occur after three years, and concludes exemption should be allowed on proof of investment and commencement.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4814 
Join Channel 
