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Capital Gain

Architect Fee paid in connection with Transfer of Development Rights allowable as Deduction: ITAT [Read Order]

Taxscan Team

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the architect fee paid by the assessee in connection with the transfer of...

Capital Gain Exemption u/s 54F not available for Purchase of 'Office Premises': ITAT [Read Order]

Amount spent on Consumable Items cannot be claimed as Cost of Improvement while computing Capital...

Income Tax Proceedings attached with Presumption of Truth: Non-Appearance Implies that Assessee has...

Car Parking Spaces Independent of Flat sold to Other Members shall be Assessed as Short Term Assets:...

AO measured Municipal Limit as per Google Map Location: ITAT deletes Capital Gain Addition based on VAO Certificate [Read Order]

The Income Tax Appellate Tribunal (ITAT), while deleting an addition towards capital gain made by the Assessing Officer based on google map, held that the municipal limit as per the certificate of...

Income Tax cannot be levied on Compensation received from Compulsory Acquisition of Land: ITAT [Read Order]

The Vishakhapatnam bench of the ITAT, comprising Shri Duvvuru Rl Reddy, Judicial Member & Shri S Balakrishnan, Accountant Member has held that the department cannot impose income tax on the...

Sale of Transferable Development Rights does not attract Capital Gains Tax: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai has held that sale of transferable development rights does not attract capital gains tax since the cost of acquisition for the same does not exist. ...

Capital Gain Exemption allowable for Purchase of Two Flats to be used as a Single Dwelling Unit: ITAT [Read Order]

The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the capital gain exemption under section 54 of the Income Tax Act, 1961 is available to purchase of two flats by the assessee...

No Capital Gain since Land Owner granted Permissive Possession to Builder under JDA: ITAT [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has held that no capital gain can be computed in the hands of the assessee (landowner) on the ground that only permissive possession...

‘Agreement to Sell’ will not result in Transfer of Asset for computing Capital Gain: ITAT deletes Addition [Read Order]

The Income Tax Appellate Tribunal (ITAT), Bangalore bench has held that mere ‘agreement to sell’ would not result in the transfer of assets for the purpose of computing the amount of capital gain...

Assessee eligible to Capital Gain exemption on Purchase of 3 different Residential Houses: ITAT [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that the assessee is eligible for Section 54 exemption in respect of the purchase of 3 different residential houses. The assessee,...

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