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Capital Gain

Capital Gain won’t attract on Sale of FSI / Transfer of Developmental Rights: ITAT [Read Order]

Taxscan Team

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the sale of FSI/ Transfer of Developmental Rights would not attract capital...

Share Purchase as per Order of Company Court constitute Dividend, not Capital Gain: Madras High...

ITAT upholds Addition since Share Transactions are Sham Transaction to evade Tax [Read Order]

ITR Alert: Income Tax Dept modifies Return Preparation Software and Scheme

Capital Gain Exemption not allowable merely on basis of Agreement without Payment Evidence: ITAT...

When HUF’s Property is sold, Capital Gain Exemption must be given to More than One Houses: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) Delhi bench has held that the capital gain exemption under section 54 of the Income Tax Act, 1961 should be given to more than one houses when the property of...

ITAT allows Sec 54F Relief for Additional Floors of New House [Read Order]

The Income Tax Appellate Tribunal (ITAT), Bangalore has held that the deduction from capital gain under section 54F of the Income Tax Act is allowable on the cost of construction of the additional...

Cost of Investment in Land is part of Cost of Construction of Residential House for availing Capital Gain Exemption: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the cost of investment in land is also part of the cost of construction of the residential house, for purpose of availing...

Extinguishment of Right in Property would result in Capital Gain: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the extinguishment of any rights in the property would result in the capital gain under the Income Tax Act, 1961. The assessee, an...

Transfer of Residential Property need not include Transfer of Land in order to claim Capital Gain Exemption u/s 54: Bombay HC [Read Judgment]

The Bombay High Court has held that in order to avail the benefit of capital gain exemption under Section 54 of the Income Tax Act transfer of land is not necessary along with the transfer of...

Properties obtained by Retiring Partners through Family Arrangement not attract Capital Gain Tax: Madras HC [Read Judgment]

A two-judge bench of the Madras High Court has held that the properties obtained by the retiring partners of a Firm through family arrangement do not amount to 'transfer' for the purpose of imposing...

Acquisition of Tenancy Right not eligible for Capital Gain Exemption: ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the acquisition of the tenancy rights would not amount to purchase or construction of a new property and therefore, the...

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