![Agricultural Land Sold 10 km Beyond Municipal Limits: ITAT Orders Verification to Determine Capital Asset Status u/s 2(14)(iii) [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-Agricultural-Land-Municipal-Limits-Taxscan.jpg "Agricultural Land Sold 10 km Beyond Municipal Limits: ITAT Orders Verification to Determine Capital Asset Status u/s 2(14)(iii) [Read Order]")
Agricultural Land Sold 10 km Beyond Municipal Limits: ITAT Orders Verification to Determine Capital Asset Status u/s 2(14)(iii) [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) orders verification of evidence to determine whether the land qualifies as a...
![Purchase of Agricultural Land not fall under Definition of Capital Asset: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-delhi-Purchase-of-Agricultural-Land-Capital-Asset-Delhi-ITAT-Deletes-Addition-Taxation-of-Land-taxscan.jpg "Purchase of Agricultural Land not fall under Definition of Capital Asset: ITAT deletes Addition [Read Order]")
![Consideration from Sale of Urban Agricultural Land is subject to Capital Gains Tax: ITAT upholds Revision Proceedings u/s 263 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/itat-delhi-Section-263-Income-Tax-Act-Taxation-on-Sale-of-Agricultural-Land-Capital-Gains-Tax-on-Land-Sale-ITAT-Urban-Agricultural-Land-Tax-taxscan.jpg "Consideration from Sale of Urban Agricultural Land is subject to Capital Gains Tax: ITAT upholds Revision Proceedings u/s 263 of Income Tax Act [Read Order]")
![ITAT Annual Digest 2023 [Part 1]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-Annual-Digest-2023-taxscan.jpg "ITAT Annual Digest 2023 [Part 1]")
S.50C Applicable to Transfer of Capital Asset of Land or Building not to Transfer of Rights: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the Section 50C of the Income Tax Act 1961 is applicable to transfer of capital asset of land or building and not to the transfer...
![S.50C Applicable to Transfer of Capital Asset of Land or Building not to Transfer of Rights: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/S.50C-Applicable-to-Transfer-of-Capital-Asset-of-Land-or-Building-not-to-Transfer-of-Rights-ITAT-TAXSCAN.jpg "S.50C Applicable to Transfer of Capital Asset of Land or Building not to Transfer of Rights: ITAT [Read Order]")
Land not a Capital Asset but a “Work-in-Progress” for Real Estate Company, Expenses to be treated as Revenue Expenditure: ITAT
The Income Tax Appellate Tribunal (ITAT), Bangalore bench has held that Land is not a Capital Asset but a 'Work-in-Progress' for a Real Estate Company. It was also observed that the Expenses incurred...
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...
![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]")
Section 50C of Income Tax Act Cannot be Applied on Compulsory Acquisition of a Capital Asset: Calcutta HC [Read Order]
The Calcutta High Court has held that Section 50C of the Income Tax Act, 1961 cannot be applied to the compulsory acquisition of a capital asset. M/s. The Durgapur Projects Limited, the...
![Section 50C of Income Tax Act Cannot be Applied on Compulsory Acquisition of a Capital Asset: Calcutta HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Income-Tax-Act-Compulsory-Acquisition-Capital-Asset-Calcutta-High-Court-Compulsory-Acquisition-of-a-Capital-Asset-taxscan.jpg "Section 50C of Income Tax Act Cannot be Applied on Compulsory Acquisition of a Capital Asset: Calcutta HC [Read Order]")
ITAT deletes Long Term Capital Gains Addition on Forfeited Advance Amount without Transfer of Capital Asset [Read Order]
The Delhi bench (single member bench) of the Income Tax Appellate Tribunal (ITAT) recently deleted the long term capital gains addition on forfeited advance amount without transfer of capital asset. ...
![ITAT deletes Long Term Capital Gains Addition on Forfeited Advance Amount without Transfer of Capital Asset [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-deletes-Long-Term-Capital-Gains-ITAT-Long-Term-Capital-Gains-Forfeited-Advance-Amount-Advance-Amount-Transfer-of-Capital-Asset-Capital-Asset-Taxscan.jpg "ITAT deletes Long Term Capital Gains Addition on Forfeited Advance Amount without Transfer of Capital Asset [Read Order]")