![ITAT directs to compute Income earned from Sale of Property u/s 45(2) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Chennai-Income-tax-Sale-of-Property-Property-sale-income-TAXSCAN.jpg "ITAT directs to compute Income earned from Sale of Property u/s 45(2) of Income Tax Act [Read Order]")
ITAT directs to compute Income earned from Sale of Property u/s 45(2) of Income Tax Act [Read Order]
The Chennai bench Income Tax Appellate Tribunal ( ITAT ) directed to compute income earned from sale of property under Section 45(2) of the Income...
![Prior Period Income from Sale of Property chargeable to Income Tax in the year of Sale: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Sale-of-Property-Prior-Period-Income-Income-from-Sale-of-Property-ITAT-ITAT-DELHI-INCOME-TAX-INCOME-TAX-ACT-TAXSCAN.jpg "Prior Period Income from Sale of Property chargeable to Income Tax in the year of Sale: ITAT [Read Order]")
![Advance received for Sale of Property is taxable under ‘Income from other sources’ if Agreement for Sale is not registered u/s 56(2)(ix) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Advance-Sale-of-Property-Income-from-other-sources-Agreement-for-Sale-Income-Tax-Act-ITAT-taxscan.jpg "Advance received for Sale of Property is taxable under ‘Income from other sources’ if Agreement for Sale is not registered u/s 56(2)(ix) of Income Tax Act: ITAT [Read Order]")
![Contravention of S. 269SS for Sale of Property for HUF: ITAT Upholds Penalty u/s 271D [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Contravention-Sale-of-Property-HUF-ITAT-Penalty-Taxscan.jpg "Contravention of S. 269SS for Sale of Property for HUF: ITAT Upholds Penalty u/s 271D [Read Order]")
On-Money received on Sale of Property @ 50% Booked Price is on A “Palpably Very High Side”: ITAT grants Partial Relief to Builder [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) has granted relief to the builder observing that the on-money received on sale of property at 50% booked price was on a “Palpably very...
![On-Money received on Sale of Property @ 50% Booked Price is on A “Palpably Very High Side”: ITAT grants Partial Relief to Builder [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Sale-of-Property-Booked-Price-ITAT-Builder-On-Money-Income-Tax-Tax-taxscan.jpg "On-Money received on Sale of Property @ 50% Booked Price is on A “Palpably Very High Side”: ITAT grants Partial Relief to Builder [Read Order]")
Income Tax Dept cannot treat Same Transaction of Sale of Property by Co-Owners: ITAT deletes Application of S. 50C [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has held that the income tax department cannot treat the same income received as sale consideration from the same property by co-owners...
![Income Tax Dept cannot treat Same Transaction of Sale of Property by Co-Owners: ITAT deletes Application of S. 50C [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Income-Tax-Dept-Sale-of-Property-ITAT-taxscan.jpeg "Income Tax Dept cannot treat Same Transaction of Sale of Property by Co-Owners: ITAT deletes Application of S. 50C [Read Order]")
Sec 269T of Income Tax Act restricting Cash Transactions above Rs. 20,000 not applicable to Repayment of Loans: ITAT [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) comprising Shri R.S. Syal, Vice President and Shri Partha Sarathi Chaudhury, Judicial Member, has held that the provisions of section 269T...
![Sec 269T of Income Tax Act restricting Cash Transactions above Rs. 20,000 not applicable to Repayment of Loans: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Income-Tax-Act-Cash-Transactions-Repayment-of-Loans-ITAT-Taxscan.jpg "Sec 269T of Income Tax Act restricting Cash Transactions above Rs. 20,000 not applicable to Repayment of Loans: ITAT [Read Order]")
Assessee couldn’t submit Evidence for Payment of Brokerage for Sale of Property: ITAT allows 1% of Sale Consideration [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore bench has allowed 1% of the sale consideration as brokerage for the sale of the property since the assessee could not prove the evidence for the...
![Assessee couldn’t submit Evidence for Payment of Brokerage for Sale of Property: ITAT allows 1% of Sale Consideration [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Assessee-Payment-Brokerage-Sale-of-Property-ITAT-Sale-Consideration-Taxscan.jpeg "Assessee couldn’t submit Evidence for Payment of Brokerage for Sale of Property: ITAT allows 1% of Sale Consideration [Read Order]")
Every Taxpayer entitled to arrange his affairs to Lower Down Taxes: ITAT allows set-off of LTCL on Sale of Shares against LTCG on Sale of Property [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) while allowing the set-off of Long Term Capital Loss (LTCL) on sale of shares against Long Term Capital Gain (LTCG) on sale of property...
![Every Taxpayer entitled to arrange his affairs to Lower Down Taxes: ITAT allows set-off of LTCL on Sale of Shares against LTCG on Sale of Property [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/09/ITAT-LTCL-sale-of-shares-LTCG-sale-of-property-Taxscan.jpg "Every Taxpayer entitled to arrange his affairs to Lower Down Taxes: ITAT allows set-off of LTCL on Sale of Shares against LTCG on Sale of Property [Read Order]")
Income from Sale of Property received by Real Estate Agent Taxable as Business Income: ITAT [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT)has held that the sale consideration received by a real estate agent towards the sale of property shall be treated as business income...
![Income from Sale of Property received by Real Estate Agent Taxable as Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/06/Sale-of-Property-Real-Estate-Agent-Business-Income-ITAT-Taxscan.jpeg "Income from Sale of Property received by Real Estate Agent Taxable as Business Income: ITAT [Read Order]")
Assessee denies Ownership & Sale of Property: Hyderabad HC Permits IT Dept to Proceed against All Persons who had Title over the Property
Recently, in Uppada Sarvani v. ITO, the Hyderabad High Court held that Capital Gain Tax cannot be levied when assessee denies ownership and sale. While deleting Assessment and penalty proceedings...
