Introduction Vintage vehicles are a symbol of nostalgia, craftsmanship, and history. Owning and using vintage cars, motorcycles, and other automobiles is a passion for many in India. However, there are certain tax implications associated with

The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that the capital gain exemption under Section 54F of the Income Tax Act, 1961 would be allowable in case where the house has been constructed

The Protocol for amendment of the Convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital gains between India and Mauritius was signed by

The Income Tax Appellate Tribunal ( ITAT ), Hyderabad Bench, has recently, in an appeal filed before it, held that capital gain exemption under section 54F cannot be allowed for sale and purchase of plots.

The Chennai bench of the Income Tax Appellate Tribunal (ITAT), Chennai bench has held that the exemption under Section 54F of the Income Tax Act, 1961 has held that the exemption is allowable merely on

The Mumbai bench of Income Tax Appellate Tribunal ( ITAT ) in Income Tax Officer versus Smt. Jaya Deepak Bhavnani upheld that capital gain arising from depreciable assets is long term capital gain for the

The Income Tax Appellate Tribunal “SMC” Bench, Pune, has, while jointly considering two appeals filed on the same ground bydifferent assessees, held that sale consideration not accruing to the assessee in the year under consideration,

The Bangalore Income Tax Appellate Tribunal (ITAT) has recently held that assessees could not claim capital gain exemption under section 54F of Income Tax Act 1961 if there was no proof for completion of construction

The Central Board of Direct Taxes ( "CBDT” ) has issued a circular extending the time limit for compliance to be made for claiming any exemption under Section 54 to 54GB of the Income-tax Act,1961

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the cost of investment in land is also part of the cost of construction of the residential house, for purpose of availing

The Delhi Bench of Income Tax Appellate Tribunal (ITAT), has held that Long Term Capital Gain (LTCG) arises from the transfer of the share of a closely held company and is chargeable to tax at

The transfer of shares by Infosys founder Narayana Murthy to his grandson, valued at Rs. 240 crores, garnered great nationwide attention. What made this transfer remarkable was not only the substantial value of the shares.

The Income Tax Appellate Tribunal (ITAT), Delhi bench, while granting relief to Hero Investment Pvt. Ltd., held that the income from the sale of shares, securities, PMS, and mutual funds is taxable under the head

The Jaipur bench of the Income Tax Appellate Tribunal (ITAT) ruled that failure in issuing a notice and reporting reason for reopening a case will invalidate the proceeding under section 148 of the Income Tax

The Delhi bench of Income Tax Appellate Tribunal (ITAT) has recently held that capital gain exemption under Section 54 of Income Tax Act, 1961 benefit could be availed in respect of basement property. Section 54