Income Tax : The Income-tax Act, 2025 replaces the dividend-based taxation of buy-backs with capital gains taxation for ordinary shareholders, ...
Income Tax : Explore the latest exemptions, deductions and allowances available under the Income-tax Act for AY 2026-27. The guide covers salar...
Income Tax : ITAT held that Section 54 exemption must be examined separately for each residential house sold. Aggregating gains from multiple t...
Income Tax : The document provides a detailed summary of the special tax provisions applicable to different securities and classes of taxpayers...
Income Tax : Learn the exemptions available under Sections 54 to 54GB of the Income-tax Act, including eligible investments, timelines, exempti...
Income Tax : India and France have signed a protocol granting full taxing rights on capital gains from share sales to the country of company re...
Income Tax : Govt rationalizes long-term capital gains tax, reducing rates to 12.5% and simplifying holding periods. Relief provided for pre-Ju...
Income Tax : Finance Bill 2024 amends Section 55 to include fair market value for unlisted shares in IPOs. Changes apply retroactively from Apr...
Income Tax : The Finance Bill 2024 proposes a streamlined and rationalized taxation system for capital gains, with changes including reduced ho...
Income Tax : From April 1, 2025, Section 47 will exclude transfers of capital assets under gifts or wills from capital gains tax, with specific...
Income Tax : ITAT held ₹33 crore settled rights over the entire land, allowing full indexed acquisition cost and rejecting proportionate rest...
Income Tax : The ITAT held that Section 54 exemption must be examined separately for each residential house sold. The benefit cannot be restric...
Income Tax : ITAT held that Section 54F deduction cannot be denied where capital gains are invested in a residential house within the prescribe...
Income Tax : ITAT held that agricultural land within the prescribed municipal distance is a capital asset and restricted the on-money addition ...
Income Tax : The ITAT held that a penalty under Section 271AAB cannot survive where the show cause notice fails to specify the exact statutory ...
Income Tax : The government has authorised all non-rural branches of 19 banks to operate Capital Gains Account Scheme accounts, enhancing taxpa...
Income Tax : The amendment introduces electronic payment modes for capital gains deposits and clarifies the effective date of deposit. It enhan...
Income Tax : Ministry of Finance notifies IREDA bonds issued post-July 9, 2025, as long-term specified assets under Section 54EC for income tax...
Income Tax : Ministry of Finance announces amendment to Section 48 of the Income-tax Act, 1961, introducing a new cost inflation index effectiv...
Income Tax : The Ministry of Finance, through the Central Board of Direct Taxes (CBDT), issued Notification No. 44/2024-Income-Tax on May 24, 2...
The distinction between slump sale and itemised asset sale determines how capital gains are taxed. A true slump sale applies Section 50B, while asset-wise transfers follow normal tax provisions.
The case examines whether penalty applies when a deduction claim is disallowed. ITAT held that full disclosure and bona fide claim prevent penalty under Section 271(1)(c).
The case addressed whether income can be corrected without filing a revised return. ITAT held that genuine computational errors can be rectified through revised computation during assessment. The ruling prioritizes accurate income over procedural technicalities.
ITAT held reassessment invalid as it was based on already examined facts without fresh material. The ruling reinforces that reopening on mere change of opinion is not permissible.
Courts held that investment in under-construction property qualifies as construction under Sections 54/54F. Deduction cannot be denied if investment is completed within the prescribed period, even if started earlier.
The law imposes automatic interest for delays in filing returns and paying taxes. It ensures timely compliance through mandatory financial charges.
This explains how fair market value governs taxation under multiple provisions including gifts, ESOPs, and slump sales. It highlights that prescribed valuation rules ensure consistent computation of deemed income.
Courts held that exemption cannot be denied merely due to lack of registration if possession and substantial payment are proven. The ruling emphasizes substance over procedural formalities.
The tribunal held that gains from sale of shares did not fall under Article 14(4). It ruled that Article 14(6) applies, making gains taxable only in the country of residence. The decision clarifies DTAA interpretation.
The issue was penalty for misreporting on sale of land classified as capital asset. The Tribunal held the issue was debatable and deleted the penalty.
