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 Bangalore ITAT held that Section 54 relief cannot be denied when capital gains are invested in a new residential house before filing the return under Section 139(4). The Tribunal ruled that such investment satisfies the statutory requirement even without a prior deposit in the Capital Gains Account Scheme.
Buyback proceeds will again be taxed as capital gains from 1 April 2026. The change allows deduction of acquisition cost and restores taxation on net gains rather than gross receipts.
Where assessee substantiated purchase, holding and sale of shares of YICL through documentary evidence, DEMAT records, contract notes, STT payments and banking transactions, and Revenue failed to establish any nexus between assessee and alleged price-rigging operators, exemption under section 10(38) could not be denied merely on suspicion or penny-stock allegations.
Pune ITAT held that Section 43CA is prospective and applies only from Assessment Year 2014-15 onward to eligible transactions. Agreements executed before the provisions introduction remain outside its scope.
Mumbai ITAT ruled that where a capital asset was acquired before 01.04.2001, the claim for adopting fair market value as on that date must be examined on merits. The key takeaway is that statutory valuation rights cannot be rejected on technical grounds alone.
The Tribunal held that long-term capital losses can be carried forward even when long-term capital gains are exempt under the India–Mauritius DTAA. Exempt gains do not enter the computation of total income and therefore cannot absorb the losses.
Tribunal held that Section 87A rebate is linked to total income, which includes short-term capital gains. CPC’s denial of rebate on Section 111A gains was therefore unsustainable for AY 2024-25.
The Tribunal ruled that booking a residential flat and making substantial payments toward its acquisition can amount to a purchase for Section 54F purposes. Registration at a later date does not automatically defeat the exemption claim.
The case involved additions for alleged on-money in Godhavi land transactions based on a handwritten loose sheet. The Tribunal restored the matter for fresh consideration, highlighting issues relating to evidence and assessment findings.
The Tribunal condoned the delay in filing the appeal after finding that the assessee had no knowledge of the assessment proceedings due to missed email notices. The assessment was restored for de novo adjudication.
