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Capital Gain

ITAT allows Capital Gain Exemption for purchase of Agricultural Land in Son’s Name [Read Order]

Taxscan Team

The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the capital gain exemption can be allowed under section 54B of the Income Tax...

Frequency, Magnitude of Transaction in Systematic Manner not a Criteria to treat Share Transaction a...

Mere Holding Shares for a Short Period won’t constitute Business Income: Bombay High Court [Read...

Capital Gain Benefit allowable in case of Part Performance of Contract: ITAT [Read Order]

Capital Gain of Multiple Years can be claimed against Purchase of New House: 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...

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...

Wife eligible for Tax Benefit for Investment made in the Joint name of Husband: ITAT [Read Order]

“In a male dominating society, the investment made in the name of the husband is also to be considered as an investment.” - Income Tax Appellate Tribunal. The Chennai bench of the Income Tax...

Capital Gain of Minor rightly Clubbed with Income of Mother: ITAT [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that the capital gain received by the minor daughters can be clubbed in the hands of the Mother under the provisions of the...

Capital Gain Taxable when accrued to Assessee: ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the capital gain is taxable under the Income Tax Act, 1961 when the same is accrued to the assessee for the relevant period. ...

Conversion of Company to LLP is ‘Transfer’: ITAT upholds Income Tax Liability [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the conversion of a company into an LLP constitutes a "transfer" for the purpose of the Income Tax Act, 1961. The Tribunal...

Tax Benefit available for Property purchased in Wife’s Name: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Hyderabad bench has recently held that the tax benefit under section 54 of the Income Tax Act is allowable to an assessee on purchasing a new house in the...

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