![Capital Gain Deduction allowable for House purchased Outside India: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/02/House-Purchased-ITAT-Taxscan.jpg "Capital Gain Deduction allowable for House purchased Outside India: ITAT [Read Order]")
Capital Gain Deduction allowable for House purchased Outside India: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) of Bangalore has allowed a claim of deduction under section 54/54F of the Income Tax Act on a house purchased...
![Exemption to Agricultural Lands bought when not for any Business purposes allowed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/01/Agricultural-Lands-Exemptions-Business-Purpose-Taxscan.jpg "Exemption to Agricultural Lands bought when not for any Business purposes allowed: ITAT [Read Order]")
![Purchase of Land before Sale of Capital Asset ineligible for Income Tax Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2019/05/Capital-Asset-ITAT-Taxscan.jpg "Purchase of Land before Sale of Capital Asset ineligible for Income Tax Deduction: ITAT [Read Order]")
![Benefit of S. 80IB(10) can be granted If Capital Asset was converted to Stock-in-Hand before entering into JDA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/09/Capital-Asset-Taxscan.jpg "Benefit of S. 80IB(10) can be granted If Capital Asset was converted to Stock-in-Hand before entering into JDA: ITAT [Read Order]")
![CBDT Notifies Rules for Computing Fair Market Value of Inventories converted to Capital Asset [Read Notification]](https://www.taxscan.in/wp-content/uploads/2017/10/Form-26AS-CBDT-Taxscan.jpg "CBDT Notifies Rules for Computing Fair Market Value of Inventories converted to Capital Asset [Read Notification]")
25% Depreciation allowable on Intangible Asset of Licence for running Container Trains on Indian Railways: ITAT [Read Order]
The Delhi bench of ITAT in an appeal filed by the assessee against the order of Ld.CIT (A) which confirmed the order of A.O regarding the depreciation claim made by the appellant , held that...
![25% Depreciation allowable on Intangible Asset of Licence for running Container Trains on Indian Railways: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/08/Depreciation-Taxscan.jpg "25% Depreciation allowable on Intangible Asset of Licence for running Container Trains on Indian Railways: ITAT [Read Order]")
CBDT invites suggestions on Draft Notification pertaining to new Rule 11UAB of IT Rules, 1962 [Read Draft Notification]
The Central Board of Direct Taxes ( CBDT ) has invited suggestions on the draft notification pertaining to new Rule 11UAB of the Income Tax Rules, 1962. The Finance Act, 2018 has inserted clause...
![CBDT invites suggestions on Draft Notification pertaining to new Rule 11UAB of IT Rules, 1962 [Read Draft Notification]](https://www.taxscan.in/wp-content/uploads/2018/05/Business-Income-CBDT-Taxscan.jpg "CBDT invites suggestions on Draft Notification pertaining to new Rule 11UAB of IT Rules, 1962 [Read Draft Notification]")
Income from Transferring Capital Asset can’t be deemed as 'Business Income' even if Assesse was regularly booking Flats and Selling the same: ITAT
The Income Tax Appellate Tribunal (Mumbai) has held that, Income from Capital Asset is ‘Capital Gain’and not business Income even if Assesse was regularly booking Flats and Selling the same. Any kind...
Membership in Stock Exchange is not a ‘Capital Asset’ for the purpose of Income Tax Act: Rajasthan HC [Read Order]
In the case, Shri Ashok Gupta v. CIT, the division bench of the Rajasthan High Court held that the membership in Stock Exchange cannot be treated as a capital asset within the meaning of section 2(14)...
![Membership in Stock Exchange is not a ‘Capital Asset’ for the purpose of Income Tax Act: Rajasthan HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/07/Shares-TaxScan.jpg "Membership in Stock Exchange is not a ‘Capital Asset’ for the purpose of Income Tax Act: Rajasthan HC [Read Order]")