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Annual Tax and Corporate Law Digest 2025: High Court Cases [Part XXVIII]

This Annual Digest analytically summarises all the High Court Tax Decisions in 2025, as reported at Taxscan.in. Taxpayer Entitled to Interest on...

Budget 2025 - Budget 2025 proposes - Amend Definition - Capital Asset - Union Budget 2025 - Budget 2025 India - Budget 2025 Updates - taxscan

Budget 2025 proposes to Amend Definition of 'Capital Asset'

Property Sale regularised in Govt records and covered as Capital Asset u/s 2(14) of Income Tax Act:...

Investment in ULIP Policy treated as “Capital Asset” u/s 2(14) of Income Tax Act, Accretion on...

Amount Received Not in respect of Transfer of Title, Rights or Interest in Property cannot be...

Income Arising from Sold Land Established as Agricultural Land cannot be Treated as Capital Asset: ITAT [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that income arising from land could not be treated as capital asset once the nature of the land sold had established as agricultural...

A Mere Right to Sue Not Subject to Income Tax under Capital Gains, Not Transferable: ITAT [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that a mere right to sue could not be subject to income tax under the head of capital gains and would not be transferable. The...

Consideration from Sale of Agricultural Land not Taxable as ‘capital Gains’: ITAT deletes Addition [Read Order]

The Chennai bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition made by the assessing officer and held that consideration received towards sale of agricultural land should not...

Unfinished Building is 'Capital Asset', subject to Income Tax on Sale along with Land: ITAT [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT), while dismissing a second appeal by the assessee, held that an unfinished building is included within the meaning of “capital asset”...

No Income Tax on Receipt of Compensation on Lease hold Rights Over A Plot: Delhi HC [Read Order]

A division bench of the High Court has held that the leasehold rights shall be treated as “capital asset” and the compensation received on leasehold rights over a plot shall not be subject to income...

Sale Deed was Completed by Proper Registration: ITAT confirms Income Tax Addition on LTCG [Read Order]

The Income Tax Appellate Tribunal (ITAT), Indore Bench confirmed Income Tax Addition on Long Term Capital Gain (LTCG), as sale deed was completed by proper registration. The assessee, Ambesh...

[BREAKING] Setback for ITC Ltd: Calcutta HC rules Rs. 32.42 Cr from Hotel Rights Relinquishment is Revenue Receipt, Not Capital Receipt [Read Order]

The Calcutta High Court ruled that Rs. 32.42 Crores received for relinquishment of right to Operate Hotel under operating licence is Revenue receipt and not Capital Receipts. The court set aside the...