Income from Transferring Capital Asset can’t be deemed as 'Business Income' even if Assesse was regularly booking Flats and Selling the same: ITAT
The Income Tax Appellate Tribunal (Mumbai) has held that, Income from Capital Asset is ‘Capital Gain’and not business Income even if Assesse was...
![Income from Capital Gain on a Transaction through JDA which never materialised considered as Hypothetical Income: Supreme Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/08/Supreme-Court-of-India-Taxscan-min.jpg "Income from Capital Gain on a Transaction through JDA which never materialised considered as Hypothetical Income: Supreme Court [Read Judgment]")
![DLF gets relief from Delhi HC as Capital Gain from Slump Sale is Not Taxable before 2000 [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/10/DLF-Taxscan.jpg "DLF gets relief from Delhi HC as Capital Gain from Slump Sale is Not Taxable before 2000 [Read Order]")
![No Addition If the Lands Transferred by Holding Company are treated as ‘Stock-in-Trade’ by Subsidiary Companies: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/10/Stock-in-Trade.jpg "No Addition If the Lands Transferred by Holding Company are treated as ‘Stock-in-Trade’ by Subsidiary Companies: ITAT [Read Order]")
Assessee can avail the benefit of Capital Gain Exemption if Provisional Possession of the New Property is transferred within 2 Years: Delhi ITAT
The Delhi ITAT, in a significant ruling, held that assessee can avail the benefit of capital gain exemption if provisional possession of the new property was transferred within two years of disposal...
Income from Compulsory Acquisition of Agricultural Land is ‘Agricultural Income’, Capital Gain Tax cannot Attract: ITAT Kolkata [Read Order]
A division bench of the Kolkata ITAT, on Wednesday held that any income accrues on compulsory acquisition of agricultural land it is to be regarded as agricultural income and not chargeable to tax...
![Income from Compulsory Acquisition of Agricultural Land is ‘Agricultural Income’, Capital Gain Tax cannot Attract: ITAT Kolkata [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/04/Agricultural-Land.jpg "Income from Compulsory Acquisition of Agricultural Land is ‘Agricultural Income’, Capital Gain Tax cannot Attract: ITAT Kolkata [Read Order]")
Power of Attorney Holder cannot be assessed for Capital Gain received on Sale of Land: ITAT Jaipur [Read Order]
In Shri Gyan Chand Agarwal v. ACIT, a division bench of the ITAT Jaipur held that addition of income against a power of attorney holder for the consideration received on the sale of land is not...
![Power of Attorney Holder cannot be assessed for Capital Gain received on Sale of Land: ITAT Jaipur [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/09/Power-of-Attorney.jpg "Power of Attorney Holder cannot be assessed for Capital Gain received on Sale of Land: ITAT Jaipur [Read Order]")
Revaluation of Satellite Rights of Partnership Firm not amount to Capital Gain on Converting into a Company: Bombay HC [Read Order]
When a partnership Firm is converted into a Company, revaluation of the satellite rights by the partnership firm would not attract any capital gain, a division bench of the Bombay High Court said....
![Revaluation of Satellite Rights of Partnership Firm not amount to Capital Gain on Converting into a Company: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/06/Bombay-High-Court-2-Tax-Scan.jpg "Revaluation of Satellite Rights of Partnership Firm not amount to Capital Gain on Converting into a Company: Bombay HC [Read Order]")
No ‘Capital Gain’ when a Dutch Co sells Shares of an Indian Immovable Property Company to Singapore Co: Andhra Pradesh HC [Read Judgment]
In Director of Income Tax v. Vanenburg Facilities BV, Andhra Pradesh High Court has held that gains arising from a Dutch company’s sale of shares of an Indian immovable property company to a Singapore...
Treatment of Income by the Dept for Past Years cannot be the Sole Basis of Addition: Jammu & Kashmir HC [Read Judgment]
While remitting a matter back to the files of the Appellate Tribunal, the Jammu and Kashmir High Court held that the department cannot treat the income from share transaction as Assessee’s “Business...
![Treatment of Income by the Dept for Past Years cannot be the Sole Basis of Addition: Jammu & Kashmir HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/07/Jammu-Kashmir-High-Court.jpg "Treatment of Income by the Dept for Past Years cannot be the Sole Basis of Addition: Jammu & Kashmir HC [Read Judgment]")
Mere License to Enter into Property for Preparing Plan & to Carry on Necessary Formalities for Construction would not amount to Transfer of Possession: ITAT [Read Order]
In ITO v. Raj Kaiwar, a division bench of the ITAT Chennai held that mere license to enter into the property for preparing plan & to carry on necessary formalities for construction cannot be...
![Mere License to Enter into Property for Preparing Plan & to Carry on Necessary Formalities for Construction would not amount to Transfer of Possession: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Ahmedabad.jpg "Mere License to Enter into Property for Preparing Plan & to Carry on Necessary Formalities for Construction would not amount to Transfer of Possession: ITAT [Read Order]")