Budget 2025: Customs Duty Revamp of Over 100 Items Expected
A major revamp of basic customs duty ( BCD ) on over 100 items is likely in the FY26 Budget, aimed at aligning duty rates with global trade trends...
![Business Loss Claim by Punjab National Bank on Held-To-Maturity Securities u/s 45(2) of Income Tax Act: Delhi HC Remands Case to AO for Reassessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Income-Tax-Delhi-High-Court-Income-Tax-Act-Punjab-National-Bank-TAXSCAN.jpg "Business Loss Claim by Punjab National Bank on Held-To-Maturity Securities u/s 45(2) of Income Tax Act: Delhi HC Remands Case to AO for Reassessment [Read Order]")
![Reliance on Stamp Duty Valuation for Capital Gains Without DVO Report: ITAT Directs Reassessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-Income-Tax-Income-Tax-Appellate-Tribunal-Stamp-Duty-TAXSCAN.jpg "Reliance on Stamp Duty Valuation for Capital Gains Without DVO Report: ITAT Directs Reassessment [Read Order]")
![Challenge on FMV Assessed Based on Occupancy Certificate: ITAT Upholds CIT(A) Order in Absence of Contrary Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Bangalore-Income-Tax-Income-Tax-Appellate-Tribunal-TAXSCAN.jpg "Challenge on FMV Assessed Based on Occupancy Certificate: ITAT Upholds CIT(A) Order in Absence of Contrary Evidence [Read Order]")
Misapplication of Income Tax Section 143(3) Instead of Section 153C by AO: ITAT quashes Entire Assessment [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) quashed the order passed by the Deputy Commissioner of Income Tax ( DCIT ) for the assessment year ( AY ) 2021-22, where the assessing...
![Misapplication of Income Tax Section 143(3) Instead of Section 153C by AO: ITAT quashes Entire Assessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Delhi-Income-Tax-Section-1433-of-Income-Tax-Act-Income-Tax-Act-Taxscan.jpg "Misapplication of Income Tax Section 143(3) Instead of Section 153C by AO: ITAT quashes Entire Assessment [Read Order]")
Purchase of One Residential House with Modifications of Two Adjacent Properties Amounts to a Single Residential House: ITAT Allows S.54F Exemption Claim [Read Order]
In a recent ruling, the Income Tax Appellate Tribunal ( ITAT ) in Mumbai granted Section 54F exemption under the Income Tax Act 1961 ( ITA ) to an assessee/ appellant, Mr. Nakul Aggarwal,...
![Purchase of One Residential House with Modifications of Two Adjacent Properties Amounts to a Single Residential House: ITAT Allows S.54F Exemption Claim [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Income-Tax-ITAT-Mumbai-Income-Tax-Appellate-Tribunal-Income-Tax-Act-TAXSCAN.jpg "Purchase of One Residential House with Modifications of Two Adjacent Properties Amounts to a Single Residential House: ITAT Allows S.54F Exemption Claim [Read Order]")
Capital Gains Arising Out of Sale of Long-Term Capital Assets Shall Be Taxable at Rate of 20% u/s 112 Of Income Tax Act:Â ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that capital gains arising from the sale of long-term capital assets shall be taxable at a rate of 20% under Section 112 of the Income...
![Capital Gains Arising Out of Sale of Long-Term Capital Assets Shall Be Taxable at Rate of 20% u/s 112 Of Income Tax Act:Â ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Mumbai-Income-Tax-Appellate-Tribunal-Capital-Gains-Sale-of-Long-Term-Capital-Assets-Taxable-at-Rate-Section-112-of-the-Income-Tax-taxscan.jpg "Capital Gains Arising Out of Sale of Long-Term Capital Assets Shall Be Taxable at Rate of 20% u/s 112 Of Income Tax Act:Â ITAT [Read Order]")
Capital Invested to Purchase Shares of 'Infrastructure Facility' before June 1998 cannot be included in Total Income: Telangana HC [Read Order]
The Telangana High Court in a recent case has held that the capital invested to purchase shares of 'infrastructure facility' before June 1998 cannot be included in total income. The Court viewed that...
Capital Gain arising out of Transfer of shares of an Indian entity cannot be Taxed at Hands of Foreign Entity in India: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) held that capital gain arising out of transfer of shares of an Indian entity cannot be taxed at hands of foreign entity in India...
![Capital Gain arising out of Transfer of shares of an Indian entity cannot be Taxed at Hands of Foreign Entity in India: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-mumbai-Income-Tax-Appellate-Tribunal-ITAT-Capital-Gain-Indian-entity-Foreign-Entity-out-of-Transfer-ITAT-NEWS-TAXSCAN.jpg "Capital Gain arising out of Transfer of shares of an Indian entity cannot be Taxed at Hands of Foreign Entity in India: ITAT [Read Order]")
ITAT Addresses Non-Compliance by Assessee, Grants Opportunity to Present Case with Cost Imposed [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) addressed the issue of non-compliance by the assessee, granting him an opportunity to present his case and also imposed a nominal cost of...
![ITAT Addresses Non-Compliance by Assessee, Grants Opportunity to Present Case with Cost Imposed [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Ahmedabad-ITAT-non-compliance-Assessee-non-compliance-Income-tax-Case-presentation-taxscan.jpg "ITAT Addresses Non-Compliance by Assessee, Grants Opportunity to Present Case with Cost Imposed [Read Order]")
