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...
ITAT condones 498-day delay & remands case for de novo assessment, ruling that a mere mistaken capital gains declaration by a previous representative doesn’t create tax liability. AO must verify if actual property transfer occurred, as documents show no sale.
The ITAT Delhi heard an appeal from Kamal Kant, whose set-off of non-speculative business losses from Futures & Options (F&O) against Capital Gains income was disallowed by the tax authorities. Citing Section 71(2) of the Income-tax Act and judicial precedent, the ITAT found the set-off permissible.
ITAT rules that “hardship compensation” received by a flat owner from a builder during society redevelopment is a capital receipt, not taxable income. It adjusts the cost of acquisition.
The ITAT Mumbai ruled in favour of Goldman Sachs (Singapore) Pte, holding that an FPI claiming capital gains exemption under the India-Singapore DTAA (Article 13) cannot be forced to set off prior year’s brought-forward losses against that exempt income.
The Tribunal held that capital gains did not arise in the relevant year because the JDA explicitly stated possession was deemed given only upon handing over the landowners’ built-up share. This means Section 45(1) cannot be invoked until actual possession or consideration is received, overriding the AO’s reliance on stamp duty valuation.
ITAT Mumbai ruled that the date of a Letter of Intent (LOI), 14.02.2011, constitutes the date of acquisition for a flat, allowing indexation from that date for Long-Term Capital Gains computation.
Delhi HC held that indexation benefit on Long Term Capital Gain for flat sale begins only from the date Builder Buyer Agreement is signed & not from Provisional Allotment Date
Chennai Bench clarified that under Section 54, only the portion of capital gains unutilised after 3 years is deemed taxable, deleting addition of full ₹5 crore.
The court held that objections regarding fraudulent transactions, round tripping, and unstamped documents were triable issues for the arbitrator, not the referral court under Section 11 of the Arbitration and Conciliation Act, 1996.
ITAT Hyderabad ruled that a Joint Development Agreement (JDA) doesn’t trigger Capital Gains Tax u/s 2(47)(v) when possession isn’t legally delivered, relying on SC/HC precedent.
