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- Next story THE HONOURABLE MR. JUSTICE T.S.SIVAGNANAM AND THE HONOURABLE MRS. JUSTICE V.BHAVANI SUBBAROYAN. –in the case of the assessee being an individual, the long term capital gains arising on the transfer of a residential house will be exempt from income tax if the assessee has, within a period of one year before or after that date either purchased or within a period of three years after that date constructed a residential house. For this purpose, the long term capital asset means a capital asset, which is not a short term capital asset.” 16. From the above, it is clear that the intention of the Legislature was to either purchase before or after the date of sale and the word ‘purchased’ or ‘constructed’ used in the Notes on Clauses amply makes the intention clear. In the light of the above discussions, we hold that the substantial question of law is required to be answered in favour of the assessee. 17. In the result, the above tax case appeal is allowed and the substantial question of law is answered in favour of the assessee. No costs.
- Previous story Justices N. Kirubakaran and P. Velmurugan, who were seized of a habeas corpus petition filed by S. Padma to get her daughter S. Nalini and son-in-law Sriharan transferred from central prison in Vellore to the one at Puzhal.
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- Justice Anand Venkatesh of Madras High Court criticises his own judgement, says it requires reconsiderationhttps://youtu.be/IW_AmkVWt8Y?si=QNusSZnBSONArpol
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Recent Posts
- There will be a farewell address by the Advocate-General to the Hon’ble Thiru. Justice G. CHANDRASEKHARAN, Judge, High Court, Madras, on Tuesday, the 30 th April, 2024, at 3.30 p.m., at Meeting Hall, Additional Library Building, High Court, Madras, on His Lordship attaining the age of superannuation on 30 th May 2024.The proceedings can b
- முதல்வர் ஸ்டாலின், அமைச்சர் பொன்முடிக்கு எதிரான மேம்பால முறைகேடு தொடர்பான வழக்கை திரும்பப் பெற்று சபாநாயகர் 15 -20 ஆண்டுகளுக்கு முன் பிறப்பித்த உத்தரவை எதிர்த்து வழக்கு தொடர முடியுமா
- Today law tips #DURAIVAIYAPURI Mhc Advt: WHETHER THE LAND CLASSIFIED AS “GRAMA NATHAM LAND” IS BELONGED TO THE GOVERNMENT PROPERTY?
- Order quashed /THE HONOURABLE MR. JUSTICE SENTHILKUMAR RAMAMOORTHYW.P.No.9701 of 2024 and W.M.P.Nos.10724 & 10726 of 2024AP Studio Enterprises,Represented by the Proprietor,Mr.Subramani Eswaran Narsingapuram,Shop No.3, Door No.1, Ellis Road,Anna salai, Chennai-600 002. …PetitionerVs.The Assistant Commissioner (ST)(FAC),Chepauk Assessment Circle,Integrated Buildings for Commercial Taxes,
- Justice Anand Venkatesh of Madras High Court criticises his own judgement, says it requires reconsiderationhttps://youtu.be/IW_AmkVWt8Y?si=QNusSZnBSONArpol