Calcutta HC: Demolition Orders Cannot be Challenged under Article 226 if a Statutory Appeal Exists  ||  Kerala High Court: Disability Pension is Payable to Voluntary Dischargee For Service-Related Illness  ||  Calcutta High Court: Partition Decree is Executable Only After Stamp Duty Payment  ||  Calcutta HC: Contempt Court Cannot Grant New Relief Beyond Original Order Once Compliance is Met  ||  Kerala High Court: Intentional Judicial Decisions Cannot be Altered as Clerical Errors under CPC  ||  Supreme Court: Delay In Filing Appeals under Section 74 of 2013 Land Acquisition Act is Condonable  ||  SC: Statutory Authorities may Intervene When Housing Societies Delay Membership Decisions  ||  SC: Quasi-Judicial Authorities Cannot Exercise Review Powers Unless Expressly Granted By Statute  ||  SC: Special Court Cannot Order Confiscation While Appeal Against Attachment Confirmation is Pending  ||  SC: Photocopies are Not Evidence Unless Conditions for Leading Secondary Evidence are Proved    

ITAT, Mumbai: Claim Of Deduction to be Reckoned From Date of Possession of New Property - (11 Mar 2022)

DIRECT TAXATION

Income Tax Appellate Tribunal, Mumbai has ruled that an assessee's claim of deduction under Section 54 of the Income Tax Act, 1961 was to be reckoned from the date of possession of the new residential house property. The Tribunal has further ruled that the source of funds for the purchase of the new house property under Section 54 is irrelevant.

Tags : INCOME TAX APPELLATE TRIBUNAL   POSSESSION OF NEW PROPERTY  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved