![Capital Gain Exemption allowable on Bonafide Expenses Incurred for making New House Habitable prior to Possession: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/CapitalGain-Bonafide-Expenses-ITAT-Taxscan.jpg "Capital Gain Exemption allowable on Bonafide Expenses Incurred for making New House Habitable prior to Possession: ITAT [Read Order]")
Capital Gain Exemption allowable on Bonafide Expenses Incurred for making New House Habitable prior to Possession: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad has held that the capital gain exemption under section 54 of the Income Tax Act, 1961 can be...
![No Handover of Property after Registration due to Non-receipt of Sale Consideration: ITAT orders for Investigation by Income Tax Dept [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Handover-of-Property-property-Registration-Non-receipt-Sale-Consideration-sale-ITAT-Investigation-income-tax-department-Taxscan.jpeg "No Handover of Property after Registration due to Non-receipt of Sale Consideration: ITAT orders for Investigation by Income Tax Dept [Read Order]")
![Agricultural Land was not converted at the Time of Sale: ITAT deletes Capital Gain Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Agricultural-Land-Time-of-Sale-ITAT-sale-Capital-gain-Taxscan.jpg "Agricultural Land was not converted at the Time of Sale: ITAT deletes Capital Gain Addition [Read Order]")
![Architect Fee paid in connection with Transfer of Development Rights allowable as Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Architect-Fee-Transfer-of-Development-Rights-Deduction-ITAT-Taxscan.jpg "Architect Fee paid in connection with Transfer of Development Rights allowable as Deduction: ITAT [Read Order]")
![Capital Gain Exemption u/s 54F not available for Purchase of Office Premises: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Capital-Gain-Exemption-54F-Purchase-of-Office-Premises-ITAT-Taxscan.jpeg "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 Gain: ITAT [Read Order]
The Income Tax Appellate Tribunal, Mumbai Bench has held that the amount spent on consumable items including sofa, tiles, etc., cannot be claimed as cost of improvement while calculating the amount...
![Amount spent on Consumable Items cannot be claimed as Cost of Improvement while computing Capital Gain: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Amount-spent-Consumable-Items-Capital-Gain-Cost-of-Improvement-ITAT-Taxscan.jpg "Amount spent on Consumable Items cannot be claimed as Cost of Improvement while computing Capital Gain: ITAT [Read Order]")
Income Tax Proceedings attached with Presumption of Truth: Non-Appearance Implies that Assessee has Nothing to Rebut, rules ITAT [Read Order]
The Income Tax Appellate Tribunal, Delhi bench has held that the income tax proceedings are attached with the presumption of truth and the non-appearance before the authorities would imply that the...
![Income Tax Proceedings attached with Presumption of Truth: Non-Appearance Implies that Assessee has Nothing to Rebut, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Income-Tax-Income-Tax-Proceedings-Presumption-of-Truth-Non-Appearance-Rebut-ITAT-Assessee-Taxscan.jpg "Income Tax Proceedings attached with Presumption of Truth: Non-Appearance Implies that Assessee has Nothing to Rebut, rules ITAT [Read Order]")
Car Parking Spaces Independent of Flat sold to Other Members shall be Assessed as Short Term Assets: ITAT [Read Order]
The Income Tax Appellate Tribunal, Mumbai bench has held that the car parking spaces which are independent of the flat and is distinguishable from the cost of improvement, was rightly treated as...
![Car Parking Spaces Independent of Flat sold to Other Members shall be Assessed as Short Term Assets: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Car-Parking-Spaces-Car-Parking-Flat-Members-Short-Term-Assets-ITAT-Taxscan.jpg "Car Parking Spaces Independent of Flat sold to Other Members shall be Assessed as Short Term Assets: ITAT [Read Order]")
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...
![AO measured Municipal Limit as per Google Map Location: ITAT deletes Capital Gain Addition based on VAO Certificate [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/AO-Municipal-Limit-Google-Map-Location-ITAT-Capital-Gain-Addition-VAO-Certificate-Taxscan.jpeg "AO measured Municipal Limit as per Google Map Location: ITAT deletes Capital Gain Addition based on VAO Certificate [Read Order]")
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...
![Income Tax cannot be levied on Compensation received from Compulsory Acquisition of Land: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Income-Tax-Compensation-Compulsory-Acquisition-Land-ITAT-Taxscan.jpg "Income Tax cannot be levied on Compensation received from Compulsory Acquisition of Land: ITAT [Read Order]")
![Sale of Transferable Development Rights does not attract Capital Gains Tax: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Transferable-Development-Rights-Sale-Capital-Gains-Tax-tax-ITAT-Sale-Of-Transferable-Development-Rights-Taxscan.jpg "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: 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...
![Capital Gain Exemption allowable for Purchase of Two Flats to be used as a Single Dwelling Unit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/ITAT-Capital-Gain-Exemption-Re-investment-Prescribed-Period-Taxscan.jpeg "Capital Gain Exemption allowable for Purchase of Two Flats to be used as a Single Dwelling Unit: ITAT [Read Order]")