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 dispute involved incorrect invocation of valuation provisions by the AO. The Tribunal ruled that using Section 142A instead of 55A vitiated the assessment.
The new tax regime introduces a uniform 12.5% long-term capital gains rate. The guide explains updated rules, exemptions, and planning strategies.
The Tribunal found that capital gains were computed without considering the DVO valuation report. It held that ignoring such evidence is improper and directed reassessment based on correct valuation.
The issue concerns mandatory reporting of specified financial transactions under tax law. The key takeaway is that entities must report high-value transactions within prescribed timelines or face penalties.
The issue concerns tax relief for foreign investors in infrastructure. The key takeaway is that specified funds can claim exemption on income if strict conditions are met.
The case explains how salary income is computed on a gross basis with only specific deductions permitted. It clarifies the scope of taxable components and highlights the restrictive nature of allowable deductions under the Income-tax Act.
The issue was whether share transactions constituted business income or capital gains. The Court upheld investor status based on consistent treatment and factual findings, dismissing the Revenue’s appeal.
The Tribunal held that disallowance of loss based on alleged penny stock manipulation was not justified without corroborative evidence. It found that transactions were supported by demat and banking records.
The Tribunal held the assessment invalid as no mandatory notice under Section 143(2) was issued. The key takeaway is that absence of such notice renders the entire assessment void.
The tribunal ruled that rejection of Section 54F deduction was premature as the assessee later produced relevant documents. It directed reassessment to verify evidence and ensure proper hearing.
