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 Tribunal held that advances received under a joint development agreement are not taxable as business income when land remains a capital asset and no transfer under section 2(47) has occurred.
The Tribunal ruled that failure to deposit capital gains in CGAS does not bar Section 54 relief when the assessee invests in a new house within the prescribed period. The key takeaway is that substantive compliance overrides procedural lapses.
The Tribunal held that incomplete villas incapable of occupation and held as business assets do not amount to residential houses. Deduction under section 54F cannot be denied merely due to their existence.
The Tribunal held that an ex-parte capital gains addition could not be sustained where the assessee was denied a meaningful opportunity. Considering comparable treatment in a related case, the matter was remanded for fresh adjudication on merits.
The Tribunal held that legal control under a JDA constitutes transfer for capital gains purposes. The assessee must provide acquisition cost details for recomputation.
The tribunal found that the income addition of ₹80 lakh was incorrectly attributed to the assessee personally instead of the company, allowing the appeal to proceed on merits.
ITAT Hyderabad condoned a 292-day delay in filing an appeal due to the assessee’s age, dependence, and overseas travel. The case is remanded for fresh adjudication of capital gains, ensuring fair opportunity and justice.
ITAT Delhi restored the matter to AO, allowing the assessee to submit evidence on share and agricultural status of land to correctly determine capital gains.
The Tribunal held that the assessee proved substantial upgrades to a semi-constructed house using bills and contractor records. It allowed the ₹4.05 crore indexed improvement cost, rejecting the AO’s suspicion-based disallowance.
ITAT Hyderabad rules that gross sale proceeds of capital assets cannot be treated as taxable income without allowing cost of acquisition. Tribunal orders reassessment to compute correct capital gains, despite assessee’s non-compliance.
