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Income Tax : Explore Income-Tax Implications of Joint Development Agreements in Property Transactions. Unveil the complexities of Section 45(5A...
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Income Tax : Any Profit or gain arising from the transfer of Capital asset is taxable as a Capital Gain u/s 45 of the Income Tax act, 1961. It ...
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Income Tax : The Mumbai ITAT held that ownership premises received under a redevelopment scheme are acquired in exchange for valuable tenancy r...
Corporate Law : Discover the implications of the government's notification on Section 64B of the Competition Act, effective from October 26, 2023....
Income Tax : It is noticed that the amount taxed under sub-section (4) of section 45 of the Act is required to be attributed to the remaining c...
Income Tax : CBDT vide Notification No. 76/2021-Income Tax | Dated: 2nd July, 2021 amends rule 8AA which relates to Method of determination of ...
The issue was whether the NCLT could declare ownership of a trademark during CIRP. The Supreme Court held that title disputes not arising directly from insolvency fall outside Section 60(5) jurisdiction.
The Tribunal examined whether execution of a development agreement alone triggers capital gains. It held that without consideration or statutory transfer of possession, no capital gains arise.
The Tribunal held that assessments under Section 153A cannot be sustained when no incriminating material is found at the assessees premises. Additions based on third-party material were quashed as being without jurisdiction.
Holding Section 54F to be a beneficial provision, the Tribunal applied settled judicial principles to allow exemption where substantive conditions were met, directing deletion of the capital gains addition.
ITAT Ahmedabad held that the assessee is entitled to the benefit of indexed cost of acquisition while computing book profit under section 115JB of the Income Tax Act. Accordingly, AO directed to recompute book profit after allowing indexation.
The Supreme Court held that gains arising from the sale of shares of a foreign company deriving substantial value from Indian assets are taxable in India. The ruling confirms that indirect transfer provisions override treaty claims when Indian assets are the real source of value.
Madras High Court held that reassessment notice under section 148 of the Income Tax Act for Assessment Year 2014-2015 issued on 29.07.2022 issued under new regime is held to be in time. Accordingly, writ petition stands dismissed.
The Tribunal held that cancellation of the earlier sale deed restored legal ownership to the assessee’s family. Consequently, compensation received on compulsory acquisition qualified for exemption under section 10(37).
Addition of ₹2.28 crore made as long-term capital gains in the hands of the assessee society was deleted in full as amount paid by a developer directly to individual members of a co-operative housing society pursuant to redevelopment cannot be taxed as capital gains in the hands of the society, particularly when the society itself never received the amount.
Emphasising the principle against double taxation, the Tribunal held that amounts taxed in members’ hands cannot again be assessed in the society’s hands, subject to factual verification.
