![Capital Gains Arising Out of Sale of Long-Term Capital Assets Shall Be Taxable at Rate of 20% u/s 112 Of Income Tax Act:Â ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Mumbai-Income-Tax-Appellate-Tribunal-Capital-Gains-Sale-of-Long-Term-Capital-Assets-Taxable-at-Rate-Section-112-of-the-Income-Tax-taxscan.jpg "Capital Gains Arising Out of Sale of Long-Term Capital Assets Shall Be Taxable at Rate of 20% u/s 112 Of Income Tax Act:Â ITAT [Read Order]")
Capital Gains Arising Out of Sale of Long-Term Capital Assets Shall Be Taxable at Rate of 20% u/s 112 Of Income Tax Act:Â ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that capital gains arising from the sale of long-term capital assets shall be...
![Capital Gain arising out of Transfer of shares of an Indian entity cannot be Taxed at Hands of Foreign Entity in India: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-mumbai-Income-Tax-Appellate-Tribunal-ITAT-Capital-Gain-Indian-entity-Foreign-Entity-out-of-Transfer-ITAT-NEWS-TAXSCAN.jpg "Capital Gain arising out of Transfer of shares of an Indian entity cannot be Taxed at Hands of Foreign Entity in India: ITAT [Read Order]")
![ITAT Addresses Non-Compliance by Assessee, Grants Opportunity to Present Case with Cost Imposed [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Ahmedabad-ITAT-non-compliance-Assessee-non-compliance-Income-tax-Case-presentation-taxscan.jpg "ITAT Addresses Non-Compliance by Assessee, Grants Opportunity to Present Case with Cost Imposed [Read Order]")
![Capital Gain Exemption Shall Not Be Denied Merely Due To Claim Made Additionally: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-Capital-Gain-Capital-Gain-Exemption-Income-Tax-Appellate-Tribunal-ITAT-raipur-revision-assessment-Income-Tax-Appellate-Tribunal-taxscan.jpg "Capital Gain Exemption Shall Not Be Denied Merely Due To Claim Made Additionally: ITAT [Read Order]")
Deduction u/s 54F of Income Tax Act Allowable On Construction Of The New Dwelling/Residential Unit: ITAT [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has held that deduction under section 54F of Income Tax Act, 1961 is allowable on construction of the new dwelling/residential unit. ...
![Deduction u/s 54F of Income Tax Act Allowable On Construction Of The New Dwelling/Residential Unit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Deduction-us-54F-of-Income-Tax-Act-Construction-Of-The-New-Dwelling-Residential-Unit-ITAT-TAXSCAN.jpg "Deduction u/s 54F of Income Tax Act Allowable On Construction Of The New Dwelling/Residential Unit: ITAT [Read Order]")
Indexation of Capital Gains Benefit available only for Real Estate and for Resident Individuals and HUFs, no Loss Set-Off
Nirmala Sitharaman on Wednesday moved amendments to the long-term capital gains tax provisions, proposed in the finance bill, for property including grandfathering and an option to choose a regime...
AO cannot make Income Additions Solely based on Retracted Statement of Third-Parties: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) held that the Assessing Officer ( AO ) cannot make income additions solely based on the retracted statement of third parties. It was...
![AO cannot make Income Additions Solely based on Retracted Statement of Third-Parties: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Itat-Income-Tax-Appellate-Tribunal-Ao-Retracted-Statement-Retracted-Statement-of-Third-Parties-Income-Additions-itat-news-income-tax-news-tax-news-taxscan.jpg "AO cannot make Income Additions Solely based on Retracted Statement of Third-Parties: ITAT [Read Order]")
Loss on Sale of Shares on Stock Exchange can be Set Off Against LTCG from sale of Unlisted Shares If STT duly Paid: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) set aside the appellate order and directed the Assessing Officer(AO) to offset the loss against the long-term capital gain. It was held...
![Loss on Sale of Shares on Stock Exchange can be Set Off Against LTCG from sale of Unlisted Shares If STT duly Paid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Stock-exchange-loss.jpg "Loss on Sale of Shares on Stock Exchange can be Set Off Against LTCG from sale of Unlisted Shares If STT duly Paid: ITAT [Read Order]")
Interest Paid on Borrowings to Acquire Property deductible from Sale Consideration: ITAT directs to Re-Compute Capital Gain [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal ( ITAT ) has directed that interest paid on borrowings to acquire property should be deductible from the sale consideration, ordering the...
![Interest Paid on Borrowings to Acquire Property deductible from Sale Consideration: ITAT directs to Re-Compute Capital Gain [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-Appellate-Tribunal-ITAT-ITAT-chennai-Capital-Gain-Long-Term-Capital-Gains-taxscan.jpg "Interest Paid on Borrowings to Acquire Property deductible from Sale Consideration: ITAT directs to Re-Compute Capital Gain [Read Order]")