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Capital Gain

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

Taxscan Team

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

Capital Gain Deduction can’t be disallowed due to Non-Investment in Capital Gains Deposit Scheme:...

Capital Gain Tax attracts despite Assessee signed a Release Deed waiving his Beneficiary...

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

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

Deduction allowable even If Capital Gain is not disclosed in Original Return: ITAT [Read Order]

In an assessee-friendly ruling, the Income Tax Appellate Tribunal (ITAT), Hyderabad bench has recently observed that the assessee is eligible for deduction under section 54F of the Income Tax Act even...

No Capital Gain Tax on Amount Received by Retiring Partner: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) held that a retiring partner took only money towards the value of his share on retirement and when there was no distribution of capital assets going to the...

Brand Name, Trademark, Know-How are Assets for the purpose of Computing Capital Gain: ITAT Read Order]

The Cochin bench of the Income Tax Appellate Tribunal (ITAT) has held that assets like brand name, know-how, trademark, etc, can be treated as assets for the purpose of computing the capital gain...

Capital Gain Deduction allowable for House purchased Outside India: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) of Bangalore has allowed a claim of deduction under section 54/54F of the Income Tax Act on a house purchased by the assessee outside India. The Assessee Shri...

Budget 2020: New and Changed Proposed TDS rates

Finance Minister Nirmala Sitharaman has proposed new changes in TDS provisions. New TDS rate chart for Assessment Year 2020-21 and 2021-22. Amended Sections TDS Rates in AY 2020-21 TDS...

Transfer of Right to Sue would not constitute Capital Gain: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai has held that the assessee cannot be assessed for capital gain on the ground of transfer of right to sue. The assessee, a lawyer by profession, was...

Sale Proceedings need not be Invested in Specified Govt Scheme New Property is purchased within Three Years: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that there is no need to invest the sale proceedings in the specified Government schemes when the assessee has purchased the new...

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