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Capital Gain

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...

‘Agreement to Sell’ will not result in Transfer of Asset for computing Capital Gain: ITAT deletes...

Assessee eligible to Capital Gain exemption on Purchase of 3 different Residential Houses: ITAT...

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

Booking Rights or Rights to Purchase Apartment or Rights to obtain Title to Apartment is 'Transfer'...

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....

ITAT deletes Capital Gain brought to tax under 50C [Read Order]

The Income Tax Appellate Tribunal (ITAT) Bangalore, has deleted an addition made by the revenue department under section 50C of the Income Tax Act. The assessee, Ayi Vaman Narasimha Acharya, filed...

Another Woman-friendly Judgment from Tax Tribunal: ITAT grants Exemption Amount invested in the purchase of residential housing in widowed Daughter’s name

The Income Tax Appellate Tribunal (ITAT), Bangalore has ruled that amount invested in purchase of residential house in daughter’s name is eligible for exemption under section 54F of the Income Tax...

Relief to Dabur: Option money is Capital Receipt requires an adjustment only at the time of Transfer of Shares, rules ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi held that the option money received by the assessee is capital receipt which requires an adjustment only at the time of transfer of the shares by Dabur...

Gain on Sale of Land is ‘Capital Gain’, liable for Deductions: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) Bangalore, held that the gain on sale of land is to be regarded as income under the head “capital gain” and is therefore entitled to all the deductions...

Capital Gain Deduction allowable for Purchase of House Property Abroad: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Bangalore Bench held that the capital deduction is allowable for purchase of house property abroad. The assessee, Joseph K. Zachariah earned long...

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