Income Tax : Learn how Section 50C impacts genuine property sales. Explore case laws, strategies, and defenses to handle unfair tax additions d...
Income Tax : Section 50C: For property sales, if the sale price is lower than the value assessed by Stamp Valuation Authority, that value is co...
Income Tax : Discover the real implications of Section 50C and significant court rulings affecting real income taxation. Explore crucial tax de...
Income Tax : Learn about tax implications for sellers and buyers of immovable property. Understand capital gains, stamp duty, tax withholding, ...
Income Tax : Understand how Sec 50C & 43CA of Income Tax Act affect taxation of immovable property sales. Learn about capital gains, business i...
Income Tax : Bombay Chartered Accountants' Society has made a Representation on 'Suggestions for Amendments in the Income Tax Act', on 24th May...
Income Tax : In relation to computing capital gains tax liability on transfer of land or building, amendment made via the Finance Act, 2016 giv...
Income Tax : Rationalisation Of Section 50c To Provide Relief Where Sale Consideration Fixed Under Agreement To Sell- Section 50C makes a spec...
Income Tax : ITAT Nagpur held that the provisions of section 56(2)(vii) (b)(ii) of the Income Tax Act came into statute by Finance Act 2013 w.e...
Income Tax : Bombay High Court rules that Section 50C of the Income Tax Act applies to the transfer of capital assets held under leasehold righ...
Income Tax : ITAT Mumbai held that addition under section 56(2)(x) of the Income Tax Act not justified since value adopted by the DVO and actua...
Income Tax : ITAT Pune condones delay in appeal by Vaibhav Surve, remands case for reassessment of capital gains on land sale under Section 50C...
Income Tax : ITAT Kolkata held that provisions of section 56(2)(x) of the Income Tax Act were inserted by Finance Act, 2017 and effective only ...
Income Tax : Notification No. 8/2020-Income-Tax- CBDT has notified Other electronic modes by inserting New Income TAx Rule 6ABBA. It also amend...
ITAT Mumbai confirms ₹1.45 crore short-term capital gains addition under Section 50C for land transfer, rejecting the taxpayer’s claim of purchase on behalf of a company.
Discover the ITAT Delhi’s ruling on Sakshi Fincap Pvt. Ltd. vs. ITO, addressing valuation discrepancies and retrospective amendments under Section 56(2)(viib) of the Income Tax Act.
In the case of Rajni Dua Vs ACIT, ITAT Delhi orders reassessment due to discrepancies in property ownership and leasehold rights. Detailed analysis provided.
ITAT Mumbai rules penalty under Section 270A deleted as I-T authority failed to consider reasons for difference in sale consideration and stamp duty valuation.
Mumbai ITAT orders stamp duty valuation on allotment letter date for Section 56(2)(x) of Income Tax Act, setting aside CIT(A) order against Assessee.
ITAT Mumbai ruled that no addition is warranted under Sec 56(2)(x)(b)(B)(ii) of Income Tax Act when difference between purchase value and fair market value is less than 10%.
ITAT Kolkata scrutinized the provisions of section 56(2)(x) of the Income Tax Act, 1961, and observed that the AO had not considered the stamp duty valuation of the property on the date of agreement, which was in 2015. As per the proviso to the section, the stamp duty value on the date of agreement should have been taken into account.
Explore the case of Tirupati Developers vs ACIT where ITAT Mumbai ruled no section 50C addition for PGBP income in a redevelopment project.
Mumbai ITAT orders AO to follow Sec 50C if stamp values exceed property FMV, in Rakhmabai Mhatre Mukkam Bhalgaon vs ITO case. Full text available.
DCIT Vs Delight Suppliers Pvt. Ltd. case by ITAT Kolkata, where currency derivative loss was deemed genuine and safe harbour rule of 5% under Section 50C was allowed.
