![Section 50C(1) of Income Tax Act is Retrospective in Nature: ITAT directs AO to Calculate Capital Gain [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Income-Tax-Retrospective-Nature-ITAT-Directs-AO-Calculate-Capital-Gain-taxscan.jpg "Section 50C(1) of Income Tax Act is Retrospective in Nature: ITAT directs AO to Calculate Capital Gain [Read Order]")
Section 50C(1) of Income Tax Act is Retrospective in Nature: ITAT directs AO to Calculate Capital Gain [Read Order]
The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) held that the amended provisions of section 50C(1) of the Income Tax Act is retrospective...
![ITAT directs AO to allow Indexation on cost of acquisition and improvement while Computing Long term capital gain for Computation done separately makes assessee Pay additional Tax [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-directs-AO-to-indexation-on-cost-of-acquisition-and-improvement-while-computing-long-term-capital-gain-for-computation-separately-pay-additional-tax-TAXSCAN.jpg "ITAT directs AO to allow Indexation on cost of acquisition and improvement while Computing Long term capital gain for Computation done separately makes assessee Pay additional Tax [Read Order]")
![Short Term Capital Gain disposed off within a Short Span of time will not justify the Gain to be treated as Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Short-term-Capital-Gain-Capital-Gain-Short-Span-of-time-Short-term-Capital-Gain-disposed-off-within-a-Short-Span-of-time-will-not-justify-the-gain-to-be-treated-as-Business-Income.jpg "Short Term Capital Gain disposed off within a Short Span of time will not justify the Gain to be treated as Business Income: ITAT [Read Order]")
![ITAT sets aside revision order in the absence of finding error in the order of AO in allowing assessees claim earned from sale of land as being in the nature of capital gains u/s 54EC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-revision-order-order-of-AO-in-allowing-assessees-claim-from-sale-of-land-capital-gain-taxscan.jpg "ITAT sets aside revision order in the absence of finding error in the order of AO in allowing assessees claim earned from sale of land as being in the nature of capital gains u/s 54EC [Read Order]")
![AO cannot Question Tax Residency of Entity Holding Valid TRC as per India-Mauritius DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/AO-cannot-Question-Tax-Residency-of-Entity-Holding-Tax-Residency-of-Entity-Holding-Valid-TRC-India-Mauritius-DTAA-ITAT-taxscan-1.jpg "AO cannot Question Tax Residency of Entity Holding Valid TRC as per India-Mauritius DTAA: ITAT [Read Order]")
Capital Gain Derived by Sale of Equity Shares not Taxable in terms of Article 13(4) of India-Mauritius DTAA: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the capital gain derived by the sale of equity shares is not taxable in terms of Article 13(4) of the India Mauritius Double...
![Capital Gain Derived by Sale of Equity Shares not Taxable in terms of Article 13(4) of India-Mauritius DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-capital-Gain-Capital-Gain-Derived-by-Sale-of-Equity-Equity-India-Mauritius-DTAA-taxscan.jpg "Capital Gain Derived by Sale of Equity Shares not Taxable in terms of Article 13(4) of India-Mauritius DTAA: ITAT [Read Order]")
No Tax Concession to Company as Promoters Gifted Shares to Company instead of Sale to Avoid Capital Gain Tax: Delhi HC [Read Order]
In a recent decision the Delhi High Court ruled that there can be no tax concession to company as promoters gifted shares to the company instead of sale to avoid capital gain tax. The Company, M/s...
![No Tax Concession to Company as Promoters Gifted Shares to Company instead of Sale to Avoid Capital Gain Tax: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/No-Tax-Concession-to-Company-as-Promoters-Gifted-Shares-Company-instead-of-Sale-to-Avoid-Capital-Gain-Tax-Delhi-HC-TAXSCAN.jpg "No Tax Concession to Company as Promoters Gifted Shares to Company instead of Sale to Avoid Capital Gain Tax: Delhi HC [Read Order]")
![Actual Sale Consideration to be taken as Basis for Computing Long-Term Capital Gain: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Actual-Sale-Sale-Actual-Sale-Consideration-Consideration-ITAT-taxscan.jpg "Actual Sale Consideration to be taken as Basis for Computing Long-Term Capital Gain: ITAT [Read Order]")
Deduction u/s 54 of Income Tax Act not allowable as Capital Gain as is not Taxable in Current Assessment Year: ITAT directs to examine Previous A.Y [Read Order]
The Income Tax Appellate Tribunal (ITAT) Ahmedabad Bench while directing to examine previous year assessment regarding capital gain exemption held that deduction under Section 54 of Income Tax Act,...
![Deduction u/s 54 of Income Tax Act not allowable as Capital Gain as is not Taxable in Current Assessment Year: ITAT directs to examine Previous A.Y [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Deduction-Income-Tax-Act-Capital-Gain-Taxable-Current-Assessment-ITAT-taxscan.jpg "Deduction u/s 54 of Income Tax Act not allowable as Capital Gain as is not Taxable in Current Assessment Year: ITAT directs to examine Previous A.Y [Read Order]")
Sale of Share was Substantiated with Documentary Evidence, Addition of Capital Gain As Unexplained Income is not Valid: Bombay HC upholds Order of ITAT [Read Order]
The Bombay High Court held that capital gain as unexplained income is not valid when the sale of shares was substantiated with documentary evidence and upheld the order of the Income Tax Appellate...
![Sale of Share was Substantiated with Documentary Evidence, Addition of Capital Gain As Unexplained Income is not Valid: Bombay HC upholds Order of ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Sale-of-Share-was-Substantiated-with-Documentary-Evidence-Sale-of-Share-Documentary-Evidence-Capital-Gain-Unexplained-Income-Bombay-HC-upholds-Order-of-ITAT-taxscan.jpg "Sale of Share was Substantiated with Documentary Evidence, Addition of Capital Gain As Unexplained Income is not Valid: Bombay HC upholds Order of ITAT [Read Order]")
Onus to Prove Non-Accrual of Capital Gain Lies on Assessee: ITAT Orders for Readjudication of Capital Gain Assessment [Read Order]
In a ruling by the Chennai Bench of the Income Tax Appellate Tribunal (ITAT), it was determined that the burden of proof lies with the assessee to demonstrate that the capital gains did not accrue to...
![Onus to Prove Non-Accrual of Capital Gain Lies on Assessee: ITAT Orders for Readjudication of Capital Gain Assessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Onus-Prove-Accrual-Capital-Gain-Assessee-ITAT-Order-income-tax-taxscan.jpg "Onus to Prove Non-Accrual of Capital Gain Lies on Assessee: ITAT Orders for Readjudication of Capital Gain Assessment [Read Order]")
Mere Delay of Developer to Handover Possession of Flat would not Vitiate Claim of Assessee: ITAT Allows Capital Gain Deduction [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) held that mere delay on the part of the developer to hand over the possession of the flat would not vitiate the claim of the assessee and...
![Mere Delay of Developer to Handover Possession of Flat would not Vitiate Claim of Assessee: ITAT Allows Capital Gain Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Delay-of-Developer-Possession-of-Flat-Flat-Claim-ITAT-Capital-Gain-Deduction-Capital-Gain-Deduction-ITAT-Allows-Capital-Gain-Deduction-taxscan.jpg "Mere Delay of Developer to Handover Possession of Flat would not Vitiate Claim of Assessee: ITAT Allows Capital Gain Deduction [Read Order]")