Budget 2025 proposes to Amend Definition of 'Capital Asset'
The Budget 2025 has proposed key amendments to Section 2(14) of the Income-tax Act, refining the definition of ‘capital asset’ to provide clarity on...
![Property Sale regularised in Govt records and covered as Capital Asset u/s 2(14) of Income Tax Act: ITAT disallows Indexed cost of Construction [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Bangalore-Income-Tax-Property-sale-taxscan.jpg "Property Sale regularised in Govt records and covered as Capital Asset u/s 2(14) of Income Tax Act: ITAT disallows Indexed cost of Construction [Read Order]")
![Amount Received Not in respect of Transfer of Title, Rights or Interest in Property cannot be Taxable Under Head of “Capital Gains”: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Amount-Received-respect-of-Transfer-of-Title-Rights-or-Interest-Property-cannot-Taxable-Under-Head-Capital-Gains-ITAT-TAXSCAN.jpg "Amount Received Not in respect of Transfer of Title, Rights or Interest in Property cannot be Taxable Under Head of “Capital Gains”: ITAT [Read Order]")
![Income Arising from Sold Land Established as Agricultural Land cannot be Treated as Capital Asset: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Income-Arising-from-Sold-Land-Established-Agricultural-Land-Treated-as-Capital-Asset-ITAT-TAXSCAN.jpg "Income Arising from Sold Land Established as Agricultural Land cannot be Treated as Capital Asset: ITAT [Read Order]")
![A Mere Right to Sue Not Subject to Income Tax under Capital Gains, Not Transferable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/A-Mere-Right-to-Sue-Not-Subject-to-Income-Tax-under-Capital-Gains-Not-Transferable-ITAT-TAXSCAN.jpg "A Mere Right to Sue Not Subject to Income Tax under Capital Gains, Not Transferable: ITAT [Read Order]")
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...
![Consideration from Sale of Agricultural Land not Taxable as ‘capital Gains’: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Consideration-from-Sale-of-Agricultural-Land-Consideration-Sale-of-Agricultural-Land-ITAT-deletes-Addition-capital-Gains-Agricultural-Land-not-Taxable-Income-Tax-ITAT-taxscan.jpg "Consideration from Sale of Agricultural Land not Taxable as ‘capital Gains’: ITAT deletes Addition [Read Order]")
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”...
![Unfinished Building is Capital Asset, subject to Income Tax on Sale along with Land: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Unfinished-Building-Capital-Asset-Income-Tax-Sale-Land-ITAT-taxscan.jpg "Unfinished Building is Capital Asset, subject to Income Tax on Sale along with Land: ITAT [Read Order]")
![No Income Tax on Receipt of Compensation on Lease hold Rights Over A Plot: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Income-Tax-Tax-Compensation-Delhi-High-Court-taxscan.jpg "No Income Tax on Receipt of Compensation on Lease hold Rights Over A Plot: Delhi HC [Read Order]")
![Sale Deed was Completed by Proper Registration: ITAT confirms Income Tax Addition on LTCG [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Sale-Deed-Registration-ITAT-Income-Tax-Addition-LTCG-taxscan.jpg "Sale Deed was Completed by Proper Registration: ITAT confirms Income Tax Addition on LTCG [Read Order]")
[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...
Agricultural Land does not fall under Capital Asset u/s 2(14) of the Income Tax Act, S 50C not Applicable: ITAT [Read Order]
The Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) has recently held that agricultural land did not fall under the head of capital asset under Section 2(14) of the Income Tax Act,...
![Agricultural Land does not fall under Capital Asset u/s 2(14) of the Income Tax Act, S 50C not Applicable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Agricultural-Land-Capital-Asset-Income-Tax-Act-ITAT-Income-Tax-taxscan.jpg "Agricultural Land does not fall under Capital Asset u/s 2(14) of the Income Tax Act, S 50C not Applicable: ITAT [Read Order]")