Income Tax : Explains Sections 54, 54F and 54EC, 12.5% LTCG tax, CGAS, transition relief and 1% TDS on eligible property sales under the Income...
Income Tax : Explains FY 2025-26 tax rates for equity STCG and LTCG, ₹1.25 lakh LTCG exemption, Section 87A position, dividend tax and SIP FI...
Income Tax : Explains Section 50AA taxation of specified Debt Mutual Funds acquired from 1 April 2023 and why broker Capital Gain Reports shoul...
Income Tax : AMFI's Budget 2026–27 proposals seek mutual fund tax reforms, compliance simplification, tax neutrality and rationalisation of k...
Income Tax : Analysis explains why Section 50C is a computation provision, discusses the First Proviso to Section 50C(1), and examines its stat...
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 : Gains arising from sale of strategic investments, promoter holdings, unlisted shares and similar long-term capital assets held by ...
Income Tax : Hyderabad ITAT upheld capital gains on a registered sale deed but remanded LTCG computation for fresh verification of the cost of ...
Income Tax : Chennai ITAT held Section 50C provisos applicable to oral agreements backed by bank payments and deleted related additions, remand...
Income Tax : ITAT Chennai allowed Section 10(37) exemption and deleted capital gains addition after finding revenue records and statutory notif...
Income Tax : ITAT Mumbai deleted the capital gain addition, holding the Bhiwandi land formed part of a slump sale already taxed under Section 5...
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 ITAT Delhi held that the assessee could not claim deduction under Section 54 for the first time before the Tribunal when it had neither been claimed in the return nor during assessment proceedings. The Tribunal also upheld the remand of the Section 50C issue to the Assessing Officer.
The article explains how Short-Term Capital Gains are classified, computed, and taxed under the Income-tax Act, 1961, as amended by the Finance Act, 2026. The key takeaway is that the holding period, nature of the asset, and applicability of Section 111A determine whether gains are taxed at a concessional 20% rate or normal income-tax slab rates.
ITAT Chennai held that indexation on construction cost cannot be denied when details of the building are already contained in the registered sale deed and its annexure. The Tribunal directed recomputation of capital gains after allowing indexed construction cost.
The dispute concerned whether dividend received on capital reduction by a foreign subsidiary could trigger restrictions under Section 115BBDA. ITAT held that the statutory conditions of Section 115BBDA were not satisfied, and therefore the assessment order could not be treated as erroneous or prejudicial to revenue.
The Mumbai ITAT held that Section 263 cannot be invoked merely because the Assessing Officer accepted income without making an addition after conducting enquiries. The ruling clarifies that revisionary powers require a lack of enquiry, not just a difference of opinion over the adequacy of verification.
The Hyderabad Bench emphasized that penalty under Section 271(1)(c) cannot be imposed solely because an addition survives appellate scrutiny. The Revenue must establish deliberate concealment or furnishing of inaccurate particulars.
The Hyderabad ITAT observed that if a property is treated as stock-in-trade, the applicability of Section 43CA cannot be ignored. The ruling clarifies that deeming provisions under Section 50C and Section 43CA operate in different contexts.
The Tribunal ruled that the Revenue cannot assess the full transaction value in the hands of a confirming party absent proof of beneficial ownership. The decision underscores the importance of establishing actual receipt of consideration.
The updated provisions explain how long-term capital gains are classified, computed, and taxed following amendments introduced by the Finance (No. 2) Act, 2024 and reflected in the Finance Act, 2026.
ITAT deleted the addition after finding that neither possession nor ownership had passed during the relevant assessment year. The decision emphasizes that actual transfer, not mere intention to sell, determines taxability.
