Income to Owner of Land as per Development Agreement is Short-Term Capital Gain, Not Business Income: ITAT
While upholding the orders of the income tax authorities, the Income Tax Appellate Tribunal (ITAT), Hyderabad Bench upheld addition in respect of...
![Amount Invested in Purchase of House in Daughter’s name eligible for Exemption under Section 54F: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/Amount-invested-purchase-of-house-daughters-name-eligible-exemption-section-54F-ITAT-Taxscan.jpeg "Amount Invested in Purchase of House in Daughter’s name eligible for Exemption under Section 54F: ITAT [Read Order]")
![Acquisition of Capital Asset isn’t for extension of Existing Business: ITAT deletes disallowance of Interest [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/Acquisition-of-capital-asset-business-ITAT-disallowance-of-interest-Taxscan.jpg "Acquisition of Capital Asset isn’t for extension of Existing Business: ITAT deletes disallowance of Interest [Read Order]")
LTCG to be computed on the basis of Guidance Value of Property as on date of Sale Agreement, not on date of Sale Deed: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench held that the long term capital gains (LTCG) to be computed on the basis of guidance value of the property as on date of Sale Agreement, not...
![LTCG to be computed on the basis of Guidance Value of Property as on date of Sale Agreement, not on date of Sale Deed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/LTCG-guidance-value-of-property-Sale-Agreement-Sale-Deed-ITAT-Taxscan.jpeg "LTCG to be computed on the basis of Guidance Value of Property as on date of Sale Agreement, not on date of Sale Deed: ITAT [Read Order]")
![No Tax on Compensation received for loss of Trees: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/12/tree-Tax-Compensation-loss-of-Trees-ITAT-Taxscan.jpeg "No Tax on Compensation received for loss of Trees: ITAT [Read Order]")
Share Application Money is ‘Capital Asset’ for the purpose of Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that Share Application Money is ‘Capital Asset’ for the purpose of Income Tax Act. As a part of corporate restructuring undertaken by...
![Share Application Money is ‘Capital Asset’ for the purpose of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/12/ITAT-Mumbai-Share-Application-Money-Capital-Asset-Income-Tax-Act-ITAT-Taxscan-1.jpg "Share Application Money is ‘Capital Asset’ for the purpose of Income Tax Act: ITAT [Read Order]")
Leasehold Rights can’t be computed as Capital Gains in respect of transactions in land or building under Section 50C: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench held that the leasehold rights can not be computed as capital gains in respect of transactions in land or building under Section 50C of the...
![Leasehold Rights can’t be computed as Capital Gains in respect of transactions in land or building under Section 50C: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/10/Leasehold-Rights-capital-gains-transactions-land-building-Section-50C-ITAT-Taxscan.jpg "Leasehold Rights can’t be computed as Capital Gains in respect of transactions in land or building under Section 50C: ITAT [Read Order]")
Income received during negotiation for Transfer of Capital Asset as ‘Other Income’, Usage of Fund can’t be a Reason to impose Tax Liability: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench held that the usage of fund cannot be the reason to impose tax liability. The assessee filed his return of income for the assessment year...
![Income received during negotiation for Transfer of Capital Asset as ‘Other Income’, Usage of Fund can’t be a Reason to impose Tax Liability: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/10/ITAT-Tax-Liability-Usage-Fund-Income-impose-Tax-Liability-Capital-Asset-Other-Income-Taxscan.jpg "Income received during negotiation for Transfer of Capital Asset as ‘Other Income’, Usage of Fund can’t be a Reason to impose Tax Liability: ITAT [Read Order]")
Land belonging to Gurudwara which is not categorized as Agricultural Land liable to TDS on Compulsory Acquisition: Delhi HC [Read Judgment]
The Delhi High Court has held that land belonging to religious establishment compulsorily acquired by the government is liable to TDS under Section 194 LA of the Income Tax Act if it is not proved to...
![Land belonging to Gurudwara which is not categorized as Agricultural Land liable to TDS on Compulsory Acquisition: Delhi HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/02/Gurudwara-Capital-Asset-Taxscan.jpg "Land belonging to Gurudwara which is not categorized as Agricultural Land liable to TDS on Compulsory Acquisition: Delhi HC [Read Judgment]")
Agricultural Lands not ‘Capital Asset’ If Buyer Company maintains the Land Character: ITAT Delhi [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi in January held that agricultural lands cannot be treated as a capital asset if the company that purchases such land maintains its character as...
![Agricultural Lands not ‘Capital Asset’ If Buyer Company maintains the Land Character: ITAT Delhi [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/02/Agricultural-Land-ITAT-Delhi-Taxscan.jpg "Agricultural Lands not ‘Capital Asset’ If Buyer Company maintains the Land Character: ITAT Delhi [Read Order]")