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Capital Gain

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

Taxscan Team

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...

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

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

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

Mere License to Enter the Property for Carrying Out Development not ‘Transfer’ for imposing Capital...

If Shares were held for more than 12 months, Income must be taxed as Capital Gain: ITAT follows CBDT Circular [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that if the shares have been held by the assessee for a period more than 12 months, then the income shall be subject to tax under...

Receipt for Relinquishment of ‘Right to Sue’ not Taxable: ITAT [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the consideration received for the relinquishment of ‘Right to Sue’ does not attract income tax either under section 45...

Capital Gain Taxable at the time of giving Actual Possession of Land to Developer: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Hyderabad bench has held that the land owner is liable to pay capital gain in the year in which the actual possession of the land was transferred to the...

Portfolio Management Services Fee is deductible from Capital Gain: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Kolkata has held that the fee paid in respect of the Portfolio Management Services can be deducted while computing the Short-Term Capital Gain. The assessee...

Gain from Sale is Business Income If Assessee followed Stock Market Trend: Bombay HC rejects House Wife’s Plea [Read Judgment]

While rejecting a plea of a House wife who claimed that the income earned from the sale of shares is capital gain, the Bombay High Court held that such income is assessable as business income since...

Income from Sale of Plots under a Business Project is Business Income: ITAT [Read Order]

The Indore bench of the Income Tax Appellate Tribunal (ITAT) has held that the selling of plots which is part of a business project can be termed as “adventure in the nature of trade” and the income...

ITAT uphold Addition since Share Transaction was used as a Colourable device to avoid Tax Liability [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has upheld an income tax addition by holding that the share transaction was used as a colourable device to avoid capital gain tax liability....

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