Income Tax : The article explains how Section 45(5A) shifted the capital gains trigger for landowners from JDA execution to issuance of the com...
Income Tax : The new law treats gains from depreciable assets as short-term capital gains for all purposes, not merely for computation. This ef...
Income Tax : The reform replaces dividend-based taxation with capital gains to ensure only real income is taxed. It removes the distortion of t...
Income Tax : Establishes that higher tax burdens on promoters under the new regime require companies to reassess payout strategies. The takeawa...
Income Tax : The distinction between slump sale and itemised asset sale determines how capital gains are taxed. A true slump sale applies Secti...
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 : The ITAT ruled that the Assessing Officer wrongly adopted the stamp duty valuation despite contrary valuation material on record. ...
Income Tax : Delhi ITAT held that before the amendment effective from 01.04.2015, exemption under Section 54 could be claimed for investment in...
Income Tax : ITAT Indore held that Section 54 exemption cannot be denied merely for failure to deposit capital gains in the Capital Gain Deposi...
Income Tax : The Tribunal ruled that delayed filing or incorrect disclosure in Form 67 does not automatically disentitle an assessee from claim...
Income Tax : The Tribunal upheld tax addition where agricultural land was acquired below stamp duty valuation and DVO-determined fair market va...
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...
Since the reassessment itself was quashed, the addition treating long-term capital gains as unexplained cash credit under section 68 automatically failed. Jurisdictional defects were fatal to the assessment.
ITAT Cuttack held that reassessment proceedings fail when no addition is made on the very reasons recorded for reopening. If the original ground disappears, the entire reassessment becomes invalid.
The issue was whether a short delay in registering the new house defeats Section 54 relief. The Tribunal held that substantial compliance within the prescribed period is sufficient and allowed the exemption in full.
The issue was whether bank cash deposits could be treated as unexplained despite accepted cash advances. The Tribunal held that telescoping applies, deleting additions to avoid double taxation of the same source.
The dispute involved denial of indexed interest while computing long-term capital gains. The Tribunal ruled that interest incurred wholly for acquiring an asset is deductible under Section 48.
Deductions under Sections 54B and 54F were denied without examining crucial evidence. The tribunal remanded the matter for fresh adjudication after considering all documents and legal issues.
The Revenue argued that incriminating material justified Section 153C action against a non-searched person. ITAT held that High Court quashing of notices conclusively ends jurisdiction under Section 153C.
The issue was whether DVO-based valuation could inflate long-term capital gains for a co-owner. The Tribunal held that once co-owner relief applies, the DVO-based addition cannot survive.
The issue was whether an appeal can be dismissed outright for non-payment of advance tax. The Tribunal held that appellate authorities must first examine if advance tax was actually payable before rejecting the appeal.
The dispute concerned taxability of gains from sale of land located outside municipal boundaries. The Tribunal ruled that such land remains agricultural in nature and is not chargeable to capital gains.
