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Capital Gain

Amount paid to Partner upon retirement towards his Share in Assets not liable to Capital Gain: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that the amount paid to partner upon retirement towards his share in assets not liable to...

Maturity Amount received from Keyman Insurance Policy is taxed under the head Income from Other...

Loss from Share Transactions cannot set off from Capital Gain from Sale of Property: ITAT

No Capital Gain Tax on Income from Relinquishment of Right: ITAT [Read Order]

ITAT deletes Penalty since Assessee Voluntarily surrendered Income [Read Order]

Capital Gain Deduction can’t be denied on ground of Procedural Lapses: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai bench has held that the benefit of section 54 of the Income Tax Act, being a beneficial provision, cannot be denied to the assessee due to...

Capital Gain Tax payable in the absence of deposit in Capital Gain Account Scheme: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Pune bench has held that the income tax can be levied on the amount of capital gain on transfer of land used for agricultural purposes if new land is not...

Capital Gain Deduction claim can be invoked during Re-Assessment if Assessee failed to file Returns: ITAT [Read Order]

In an assessee-friendly ruling, the Income Tax Appellate Tribunal (ITAT), Jaipur bench has held that the assessee can claim the benefit of capital gain deduction under section 54F of the Income Tax...

Capital Gain Deduction can’t be disallowed due to Non-Investment in Capital Gains Deposit Scheme: ITAT [Read Order]

In an assessee-friendly ruling, the Income Tax Appellate Tribunal (ITAT), Chennai bench has held that the capital gain deduction under section 54 of the Income Tax Act, 1961 cannot be disallowed to...

Capital Gain Tax attracts despite Assessee signed a Release Deed waiving his Beneficiary Interests/Title: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Hyderabad bench has recently held that liability to pay capital gain tax would attract despite the fact that the assessee signed a release deed waiving all...

Misuse of Client Code Modification for Tax Evasion: ITAT upholds Addition [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT), in a matter involving misuse of client Code Modification, confirmed the addition against the assessee finding that the assessee could not...

ITAT set aside Orders for Addition by Lower Authorities on Lack of Documentary Evidence [Read Order]

The Income Tax Appellate Tribunal (ITAT) held that the addition cannot be sustained without any documentary evidence on record, accordingly the finding of the lower authorities on the issue in dispute...

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