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...
The court held that reopening an assessment on the same facts amounts to an impermissible change of opinion. Arbitrary second reassessment notices were quashed with ₹1 lakh costs imposed to deter harassment.
Holding Section 54F to be a beneficial provision, the Tribunal applied settled judicial principles to allow exemption where substantive conditions were met, directing deletion of the capital gains addition.
Authorities found the land had been sold decades earlier and the MOU acknowledged no possession or rights. The Tribunal affirmed taxation under section 56. The ruling clarifies that an MOU cannot convert non-rights into capital receipts.
The Tribunal held that rights received under a joint development agreement are not free but exchanged for land. Indexed cost must therefore be allowed while computing capital gains.
The issue was whether reassessment remains valid when no Section 143(2) notice is issued after a return is filed in response to Section 148. ITAT held such reassessment void, confirming that Section 143(2) is a mandatory jurisdictional requirement.
The Tribunal held that when the Assessing Officer disagrees with FMV supported by a registered valuer, a reference to the DVO is mandatory. Reliance solely on stamp duty rates was found improper, and the matter was remanded for fresh valuation.
The issue was whether a penalty can survive when the show cause notice fails to specify the exact charge. ITAT held that a vague notice violates law, making the entire penalty unsustainable.
The issue was whether TDS credit can be claimed by a person not named in the sale deed. ITAT held that TDS credit belongs only to the actual owners who executed the sale agreement.
The tribunal held that taxing the full sale consideration as short-term capital gain without allowing cost of acquisition is legally incorrect. Capital gains must be computed on net gains, not gross receipts.
Capital gains were computed without allowing improvement costs due to submission of an incorrect valuation report. The Tribunal held that a bona fide mistake justified reconsideration with correct evidence.
