![Capital Gain Exemption can’t be disallowed If Assessee invoked Wrong Provision due to Ignorance of Law: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/04/Development-Agreement-Capital-Gain-Taxscan.jpg "Capital Gain Exemption can’t be disallowed If Assessee invoked Wrong Provision due to Ignorance of Law: 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...
![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]](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]](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]")
![ITAT allows Capital Gain Exemption for purchase of Agricultural Land in Son’s Name [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/04/Agricultural-Land.jpg "ITAT allows Capital Gain Exemption for purchase of Agricultural Land in Son’s Name [Read Order]")
Frequency, Magnitude of Transaction in Systematic Manner not a Criteria to treat Share Transaction a Business Activity: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Ahmedabad bench has held that the frequency, magnitude of the transaction in a systematic manner cannot be the criteria to hold that the assessee is engaged...
![Frequency, Magnitude of Transaction in Systematic Manner not a Criteria to treat Share Transaction a Business Activity: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/06/Sale-of-Shares-Tax-Scan.jpg "Frequency, Magnitude of Transaction in Systematic Manner not a Criteria to treat Share Transaction a Business Activity: ITAT [Read Order]")
Mere Holding Shares for a Short Period won’t constitute Business Income: Bombay High Court [Read Judgment]
A two-judge bench of the Bombay High Court has held that the holding of shares for a short period only will not convert capital gain into business income. Justices M S Sanklecha and Akil Kureshi have...
![Mere Holding Shares for a Short Period won’t constitute Business Income: Bombay High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/04/Shirdi-Trust-Taxscan.jpg "Mere Holding Shares for a Short Period won’t constitute Business Income: Bombay High Court [Read Judgment]")
![Capital Gain Benefit allowable in case of Part Performance of Contract: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/09/Capital-Gain-Tax.jpg "Capital Gain Benefit allowable in case of Part Performance of Contract: ITAT [Read Order]")
Houseboat purchased for using as Residential House not eligible for Capital Gain Exemption: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Rajkot has held that a houseboat purchased for use as a residential house by the assessee is not eligible for capital gain exemption under section 54 of the...
![Houseboat purchased for using as Residential House not eligible for Capital Gain Exemption: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/12/House-Boat-ITAT-Taxscan.jpg "Houseboat purchased for using as Residential House not eligible for Capital Gain Exemption: ITAT [Read Order]")
No Tax Relief for Sale of Old House If New One purchased in Wife & Daughters’ Name: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai bench has held that no tax relief under section 54 can be granted to the assessee for the sale of an old property if the new property was purchased in...
![No Tax Relief for Sale of Old House If New One purchased in Wife & Daughters’ Name: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/02/Capital-Gain-Taxscan.jpg "No Tax Relief for Sale of Old House If New One purchased in Wife & Daughters’ Name: ITAT [Read Order]")