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Capital Gain

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...

No Tax Relief for Sale of Old House If New One purchased in Wife & Daughters’ Name: ITAT [Read...

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

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

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

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...

Intention of Assessee at the time of Purchase of Shares relevant to determine Tax Liability: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) in ACIT v. Shri Finance ruled that intention of assessee during the time of purchase of shares is a criterion to determine the tax...

Capital Gain from Depreciable Assets is LTCG for claiming Exemption u/s 54: ITAT [Read Order]

The Mumbai bench of Income Tax Appellate Tribunal ( ITAT ) in Income Tax Officer versus Smt. Jaya Deepak Bhavnani upheld that capital gain arising from depreciable assets is long term capital gain for...

Profit of Sale of Mutual Fund is Capital Gain, not Business Income: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the profit earned from the sale of mutual fund would be taxable as capital gain and not business income under the Income Tax...

Amount paid for discharge of Mortgage Interest deductible as Cost of Acquisition: ITAT [Read Order]

The Jaipur bench of Income Tax Appellate Tribunal (ITAT) has held that the amount paid for the discharge of mortgage interest has to be considered as the cost of acquisition for the purpose of...

Mere License to Enter the Property for Carrying Out Development not ‘Transfer’ for imposing Capital Gain Liability: ITAT [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has held that the mere license to enter the property for carrying out development not ‘Transfer’ for imposing capital gain liability...

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