![No Capital Gain when new Partner bring Cash by way of Capital Contribution and Retiring Partners take Cash and Retire: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/04/Capital-Gain-Sale-of-SHares-Taxscan.jpg "No Capital Gain when new Partner bring Cash by way of Capital Contribution and Retiring Partners take Cash and Retire: Bombay HC [Read Judgment]")
No Capital Gain when new Partner bring Cash by way of Capital Contribution and Retiring Partners take Cash and Retire: Bombay HC [Read Judgment]
The Bombay High Court on March 26th earlier this year ruled that when new Partner brings Cash by way of Capital Contribution and Retiring Partners...
![IT Deduction available on purchase of Two Residential Houses even If Investment is not made out of Capital Gain: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/02/New-House.jpg "IT Deduction available on purchase of Two Residential Houses even If Investment is not made out of Capital Gain: ITAT [Read Order]")
![Sale of Client Relationship and Goodwill by CA Firm constitute ‘Capital Gain’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/11/Capital-Gain-Taxscan.jpg "Sale of Client Relationship and Goodwill by CA Firm constitute ‘Capital Gain’: ITAT [Read Order]")
![Supreme Court confirms Addition for Bogus Share Application Money and Premium [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/08/Supreme-Court-of-India-Taxscan-min.jpg "Supreme Court confirms Addition for Bogus Share Application Money and Premium [Read Judgment]")
![Mere Execution of Power of Attorney Agent not amount to ‘Transfer’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/09/Capital-Gain-Tax.jpg "Mere Execution of Power of Attorney Agent not amount to ‘Transfer’: ITAT [Read Order]")
Non-Competent Fee received from sale of Business Asset taxable as Long Term Capital Gain: Bombay HC [Read Judgment]
A two-judge bench of the Bombay High Court has held that the non-competent fee received by the assessee from the sale of the business assets was not assessable as profits of business under Section...
![Non-Competent Fee received from sale of Business Asset taxable as Long Term Capital Gain: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/08/Non-Compete-Fee-Taxscan.jpg "Non-Competent Fee received from sale of Business Asset taxable as Long Term Capital Gain: Bombay HC [Read Judgment]")
No Capital Gain in the Year of entering into Development Agreement where No Actual Allotment took Place: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the tax liability for capital gain cannot arise in the year in which the assessee entered into a development agreement where there...
![No Capital Gain in the Year of entering into Development Agreement where No Actual Allotment took Place: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/04/Development-Agreement-Capital-Gain-Taxscan.jpg "No Capital Gain in the Year of entering into Development Agreement where No Actual Allotment took Place: ITAT [Read Order]")
Capital Gain Exemption can’t be disallowed If Assessee invoked Wrong Provision due to Ignorance of Law: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the capital gain exemption under Section 54 of the Income Tax Act, 1961 cannot be disallowed in a case where the assessee,...
![Capital Gain Exemption available to House Constructed in HUF’s Plot: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/07/Capital-Gain-Tax-Taxscan.jpg "Capital Gain Exemption available to House Constructed in HUF’s Plot: ITAT [Read Order]")
Tax Deduction available to Legal and Professional Fees paid for Transfer of Shares: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai bench has allowed the deduction to the fees paid to legal and professional fees in connection with the transfer of shares. Section 48 (i) of the Act...
![Tax Deduction available to Legal and Professional Fees paid for Transfer of Shares: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/07/Uncharitable-Activity-Collecting-Fees-Taxscan.jpg "Tax Deduction available to Legal and Professional Fees paid for Transfer of Shares: ITAT [Read Order]")
Coparcener can’t be Taxed for Capital Gain from Property purchased in his Name out of Income of HUF: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai bench has held that an individual coparcener who is shown as owner in the sale deed cannot be taxed for Property belong to the Hindu Undivided Family...
![Coparcener can’t be Taxed for Capital Gain from Property purchased in his Name out of Income of HUF: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/10/HUF-Taxscan.jpg "Coparcener can’t be Taxed for Capital Gain from Property purchased in his Name out of Income of HUF: ITAT [Read Order]")
![Income Tax can’t be levied on Transfer of Property through Power of Attorney: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/09/Power-of-Attorney.jpg "Income Tax can’t be levied on Transfer of Property through Power of Attorney: ITAT [Read Order]")