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Capital Gain

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Slump Sales: A Comprehensive Guide to Structuring Deals for Success

Income Tax : Delve into the intricacies of slump sale as per Section 50B of Income Tax Act in India. Learn about its definition, tax implicatio...

April 21, 2024 2454 Views 2 comments Print

Taxation and Social Equity: Balancing the Scales in India

Finance : Explore the interplay between taxation and social equity in India. Learn how progressive tax policies and targeted measures can ad...

April 19, 2024 174 Views 0 comment Print

Taxability of Offshore Indirect Transfer of Capital Assets situated in India by Non-Resident Corporations/Entities

Income Tax : Learn about tax implications of offshore indirect transfers of Indian capital assets by non-resident entities. Explore Vodafone ca...

April 17, 2024 549 Views 0 comment Print

Analysis of the Different Heads of Income

Income Tax : Explore the intricate details of different heads of income, including salaries, and their tax implications. Gain insights into tax...

April 13, 2024 3105 Views 0 comment Print

Exemption under capital Gain: Section 54, 54B, 54D, 54EC, 54F, 54G & 54GA

Income Tax : Explore exemptions under capital gain with sections 54, 54B, 54D, 54EC, 54F, 54G, and 54GA. Eligibility, assets, limits, and lock-...

April 3, 2024 1959 Views 3 comments Print

Latest News

Key Features & Benefits of Taxation Laws (Amendment) Bill, 2021

Income Tax : Taxation Laws (Amendment) Bill, 2021 Key Features of Taxation Laws (Amendment) Bill, 2021 1. Provides that no tax demand shall be ...

August 13, 2021 1413 Views 0 comment Print

Analysis of The Taxation Laws (Amendment) Bill, 2021 by ICAI CMA

Income Tax : The government introduced the Taxation Laws (Amendment) Bill, 2021, which seeks to withdraw tax demands made under the Finance Act...

August 11, 2021 1344 Views 0 comment Print

4 Major Tax Exemptions to Startups

Income Tax : 4 Major Tax Exemptions to Startups includes Income Tax Exemption on profits under Section 80-IAC of Income Tax (IT) Act, Tax Exemp...

December 11, 2019 5835 Views 0 comment Print

Draft Notification on Tax on Long Term Capital Gain on Shares

Income Tax : Finance Act, 2018 has withdrawn the exemption under clause (38) of section 10 of the Income-tax Act, 1961 (the Act) and has introd...

April 24, 2018 12741 Views 0 comment Print

Amend Sec. 47(viab) related to indirect transfer of capital asset situated in India

Income Tax : The Finance Act, 2015 has amended provisions dealing with indirect transfer of capital asset situated in India. The amendment prov...

December 28, 2017 4833 Views 0 comment Print

Latest Judiciary

ITAT Delhi Allows Capital Gain Deduction for Additional Land Acquisition Costs

Income Tax : Read the full text of the ITAT Delhi order in Prime Maxi Promotion Pvt. Ltd. Vs ACIT case, allowing deduction for additional compe...

April 21, 2024 360 Views 0 comment Print

Section 148 Notice cannot be issued to Partner for Transactions Among Partnership Firms

Income Tax : Explore the case of Bhagwan Laxman Rokde Vs ITO (ITAT Mumbai) regarding validity of reopening u/s.147, taxation on undisclosed inc...

April 3, 2024 462 Views 0 comment Print

Time Limit to Acquire New House for Section 54 Capital Gains Tax Exemption

Income Tax : Delhi ITAT ruled that to claim capital gains benefit under Sec 54, taxpayers must acquire a residential house within three years f...

March 31, 2024 69876 Views 0 comment Print

ITAT allows Expenditure on power of attorney, air tickets, hotel stays against capital gain

Income Tax : In Adil Rehman's case, ITAT Hyderabad allows expenditure on special power of attorney, air tickets, hotel stays, etc., as deductib...

March 24, 2024 11679 Views 0 comment Print

Deemed Short-Term Capital Gains from Depreciable Asset Sale Eligible for Setoff Against Long-Term Capital Loss

Income Tax : Explore how DCIT vs. Claris Lifesciences Limited case sets precedent for setting off deemed short-term capital gain on sale of dep...

March 21, 2024 363 Views 0 comment Print

Latest Notifications

NHAI discontinue Section 54EC Capital Gain Bonds issuance w.e.f. 01.04.2022

Income Tax : The Government of India in IEBR for FY 2022-23 have not mandated NHAI to raise funds from the market. Therefore. NHAI shall not is...

March 31, 2022 29601 Views 0 comment Print

Guidelines under clause (10D) section 10 of Income-tax Act, 1961

Income Tax : The Finance Act, 2021 amended clause (10D) of section 10 of the Act by inserting fourth to seventh provisos. Fourth proviso provid...

January 19, 2022 11928 Views 1 comment Print

CBDT Notification on Computation of capital gains, not exempt under Section 10(10D)

Income Tax : CBDT vide Notification No. 8/2022-Income tax notifies Rule 8AD Computation of capital gains for the purposes of sub-section (1B) o...

January 18, 2022 7614 Views 0 comment Print

Draft rules for amendments by Taxation Laws (Amendment) Act, 2021

Income Tax : No tax demand shall be raised in future on the basis of the amendment to section 9 of the Income-tax Act made vide Finance Act, 20...

August 28, 2021 1077 Views 0 comment Print

Taxation Laws (Amendment) Act, 2021

Income Tax : In section 9 of the Income-tax Act, 1961, in sub-section (1), in clause (i), in Explanation 5, after the third proviso, the follow...

August 14, 2021 3636 Views 0 comment Print

ITAT: Sale of Shares Capital Gains Not Sham, Deletes Section 69A Additions

February 15, 2024 906 Views 0 comment Print

Delhi ITAT’s landmark ruling in Sarika Bindal vs. ITO establishes that capital gains from share sales cannot be deemed sham, safeguarding taxpayer rights.

Profit Size Doesn’t prove Company Authenticity or Transactions in Penny Stock Cases

February 13, 2024 318 Views 0 comment Print

Kolkata ITAT upholds LTCG disallowance in Brajesh Narnolia Vs ITO, emphasizing that a company’s genuineness isn’t judged by the magnitude of profit.

ITAT disallows cost of improvement incurred by Company for individual’s flat

February 13, 2024 285 Views 0 comment Print

ITAT Pune rules against a company’s claim for improvement costs on an individual’s flat in Arun Tulshidas Kharat Vs DCIT case. Detailed analysis and implications here.

ITAT upholds denial of LTCG exemption on shares of Kappac Pharma Limited

February 11, 2024 591 Views 0 comment Print

Income Tax Appellate Tribunal upholds denial of LTCG exemption on shares of Kappac Pharma Limited. Read the full analysis of this remarkable decision & its implications on taxpayers.

SEBI Investigation of broker Alone Insufficient to Label Assessee’s LTCG as Bogus

February 11, 2024 411 Views 0 comment Print

Investigate the Income Tax Appellate Tribunal ruling in ITO vs. Indravadan Jain HUF & its implications for similar cases in the future. Assessing officer’s declarations on SEBI Investigation & LTCG of the assessee addressed.

Is agreement to sell is a transfer and liable to Capital Gain Tax?

February 10, 2024 7506 Views 0 comment Print

Explore whether an agreement to sell qualifies as a transfer under Capital Gains Tax according to the Income Tax Act, 1961.

LTCG on Bogus Scrips Not Eligible For Section 10(38) Exemption: Ahmedabad ITAT

February 9, 2024 327 Views 0 comment Print

Ahmedabad ITAT dismisses appeal, denying LTCG exemption under Section 10(38) for bogus scrips. Read the full text of the order.

Developer holding ownership of property liable to pay capital gain tax: ITAT Mumbai

February 8, 2024 372 Views 0 comment Print

ITAT Mumbai held that as ownership of property lies with the developer on the day of ‘agreement of sale’, sale consideration is taxable under capital gains in the hand of developer and not in the hands of assessee.

Urban Agricultural Land Sales Subject to Capital Gains Tax: ITAT Delhi

February 6, 2024 2307 Views 0 comment Print

Explore the ITAT Delhi’s decision in Dharam Pal Saini vs PCIT, upholding revision proceedings u/s 263 of the Income Tax Act. Learn about the assessment on sale of urban agricultural land and its implications on capital gains tax.

ITAT Directs AO to Allow Indexed Cost of Improvement & Recompute Capital Gains

February 2, 2024 5691 Views 1 comment Print

Read the full text of the ITAT Delhi order in the Ashwin Kapur vs ACIT case. The ITAT directs the AO to allow the indexed cost of improvement and recompute capital gains under section 48 of the Income Tax Act.

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April 2024