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Capital Gain

Car Parking Spaces Independent of Flat sold to Other Members shall be Assessed as Short Term Assets: ITAT [Read Order]

Taxscan Team

The Income Tax Appellate Tribunal, Mumbai bench has held that the car parking spaces which are independent of the flat and is distinguishable from...

AO measured Municipal Limit as per Google Map Location: ITAT deletes Capital Gain Addition based on...

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

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

Capital Gain Exemption allowable for Purchase of Two Flats to be used as a Single Dwelling Unit:...

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,...

ITAT upholds Addition as Assessee failed to utilized amount in Capital Gain Account within Statutory Period

The Income Tax Appellate Tribunal (ITAT), Delhi Bench upheld the addition as the assessee failed to utilize the amount in the capital gain account within the statutory period. The assessee, Avtar...

Booking Rights or Rights to Purchase Apartment or Rights to obtain Title to Apartment is 'Transfer' to impose Capital Gain: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench held that the Booking Rights or Rights to Purchase Apartment or Rights to obtain title to the Apartment are “Transfer” to impose Capital Gain. ...

Expenditure towards Repairs to make House habitable deductible from Capital Gain: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Hyderabad bench has recently held that the expenditure incurred by the assessee to repair the house to make the same habitable shall be deducted from the...

Late Deposit of Unutilized Capital Gain: ITAT allows Tax Benefit to Assessee [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has recently held that the provisions of section 54 of the Income Tax Act, which is a beneficial provision shall be interpreted liberally....

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