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 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.
The issue concerned reopening based on notices never validly served on the assessee. The Tribunal held that defective service of notices strikes at the root of jurisdiction and invalidates the reassessment.
The Finance Bill, 2026 changes the tax treatment of share buy-backs by taxing proceeds as capital gains instead of dividend income. The move simplifies taxation and better reflects the nature of buy-back transactions.
