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 ITAT found that the Assessing Officer made disallowance under Section 94(7) without verifying facts. The matter was remanded for fresh examination with proper opportunity to the assessee.
The Tribunal held that loss from discontinued operations cannot be restricted without evidence. Fully supported expenses must be allowed under Section 37(1).
The Tribunal held reopening valid as tangible material showed undisclosed capital gains. It ruled that execution of a registered sale deed triggers tax liability even if consideration is disputed.
The case clarifies that capital gains tax arises upon execution of a registered sale deed, even if payment is not received. It highlights that the right to receive consideration is sufficient to trigger tax liability.
The issue was whether a single satisfaction note for multiple years is valid under Section 153C. ITAT Pune held it invalid, ruling that separate satisfaction per year is mandatory, thereby quashing the entire assessment.
DCIT Vs Revanth Challagalla (ITAT Hyderabad) Section 54F Allowed Even When Property Purchased in Sister’s Name – Subsequent Gift Validates Claim In this case, the ITAT Hyderabad upheld the allowance of deduction under Section 54F despite the property being initially registered in the name of the assessee’s sister. The assessee, an NRI, had sold villas […]
The issue was whether a Joint Development Agreement (JDA) constituted transfer triggering capital gains. The tribunal held no taxable transfer occurred as rights were unsettled due to partition disputes and lack of finality.
The Tribunal examined denial of rebate due to technical computation issues. It held that deduction must be granted as income was below ₹7 lakh and statutory conditions were satisfied.
The Tribunal clarified that possession is not a mandatory condition for claiming Section 54 exemption. It held that investment within the prescribed timeline satisfies the legal requirement.
The Tribunal condoned delay after finding reasonable cause and examined the merits of the case. It held that no capital gains arise where purchase and sale consideration are identical.
