Case Digest: Capital gain on Property (Part 1)
Profits or gains arising from the transfer of an immovable property, held as a capital asset, are taxed under the head "Capital Gains”. The incidence...
![Stamp Duty Valued as Full Value of Consideration u/s 50C(1): ITAT directs Re-Computation of Capital Gains [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Stamp-Duty-Value-of-Consideration-Consideration-ITAT-Re-Computation-of-Capital-Gains-Capital-Gains-taxscan.jpg "Stamp Duty Valued as Full Value of Consideration u/s 50C(1): ITAT directs Re-Computation of Capital Gains [Read Order]")
![Addition u/s 50C of Income Tax Act based on SVAs Overvaluation of Capital Gain Sale Consideration : ITAT directs Readjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Addition-us-50C-of-Income-Tax-Act-based-on-SVAs-Overvaluation-of-Capital-Gain-Sale-Consideration-ITAT-directs-Readjudication-TAXSCAN.jpg "Addition u/s 50C of Income Tax Act based on SVAs Overvaluation of Capital Gain Sale Consideration : ITAT directs Readjudication [Read Order]")
![Cost of New Property has to be Assessed as per Collaboration Agreement for Exemption u/s 54: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Cost-of-New-Property-has-to-be-Assessed-Collaboration-Agreement-for-Exemption-Agreement-for-Exemption-New-Property-has-to-be-Assessed-New-Property-Agreement-Collaboration-itat-taxscan.jpg "Cost of New Property has to be Assessed as per Collaboration Agreement for Exemption u/s 54: ITAT [Read Order]")
![Purchase of Furniture, AC to Make New House Habitable Eligible for Capital Gain Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Purchase-of-Furniture-New-House-Capital-Gain-Deduction-Capital-Gain-Deduction-ITAT-Taxscan.jpg "Purchase of Furniture, AC to Make New House Habitable Eligible for Capital Gain Deduction: ITAT [Read Order]")
Advance Amount Forfeited on Cancellation of Sale Agreement is Deductible from the Cost of Acquisition: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, held that advance amount forfeited on cancellation of sale agreement, is deductible from the cost of...
![Advance Amount Forfeited on Cancellation of Sale Agreement is Deductible from the Cost of Acquisition: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Advance-Amount-Cancellation-of-Sale-Agreement-Sale-Agreement-ITAT-Taxscan.jpg "Advance Amount Forfeited on Cancellation of Sale Agreement is Deductible from the Cost of Acquisition: ITAT [Read Order]")
Deduction on Cost of Building not Allowable under 'Capital Gain' when Value of Building is not Mentioned in Fixed Assets’ Schedule: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench, has recently, in an appeal filed before it, held that deduction on cost of building is not allowable under the head ‘capital gain’, when the...
![Deduction on Cost of Building not Allowable under Capital Gain when Value of Building is not Mentioned in Fixed Assets’ Schedule: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Deduction-on-Cost-of-Building-Deduction-Cost-of-Building-Capital-Gain-Value-of-Building-Fixed-Assets-Fixed-Assets-Schedule-ITAT-taxscan.jpg "Deduction on Cost of Building not Allowable under Capital Gain when Value of Building is not Mentioned in Fixed Assets’ Schedule: ITAT [Read Order]")
![Capital Gain Exemption Benefit u/s 54 can be availed in respect of Basement Property: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Capital-Gain-Exemption-respect-of-Basement-Property-ITAT-TAXSCAN.jpg "Capital Gain Exemption Benefit u/s 54 can be availed in respect of Basement Property: ITAT [Read Order]")
Depreciation on Goodwill cannot be Denied on ground of Adopting DFC Method when AO Accepted Capital Gain Claim for Slump Sale: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the depreciation claim on goodwill cannot be denied merely on ground of adopting discounted cash flow (DFC) method when the...
![Depreciation on Goodwill cannot be Denied on ground of Adopting DFC Method when AO Accepted Capital Gain Claim for Slump Sale: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Goodwill-Denied-ground-Adopting-DFC-Method-Capital-Gain-Claim-Slump-Sale-ITAT-TAXSCAN1.jpg "Depreciation on Goodwill cannot be Denied on ground of Adopting DFC Method when AO Accepted Capital Gain Claim for Slump Sale: ITAT [Read Order]")
No Document to Prove that Assessee is merely a POA Holder: ITAT Upholds Addition of Capital Gain [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, on there being no document to prove that assessee is merely a Power of Attorney (POA) holder, upheld...
![No Document to Prove that Assessee is merely a POA Holder: ITAT Upholds Addition of Capital Gain [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Document-POA-Holder-ITAT-Addition-of-Capital-Gain-Capital-Gain-taxscan.jpg "No Document to Prove that Assessee is merely a POA Holder: ITAT Upholds Addition of Capital Gain [Read Order]")
Capital Gain from Sale of Shares cannot be treated as Bogus solely on the basis of Report of Income Tax Dept: ITAT [Read Order]
The Chennai Income Tax Appellate Tribunal (ITAT) has recently held that capital gain from sale of shares could not be treated as bogus solely on the basis of a report of the Income Tax Department. ...
![Capital Gain from Sale of Shares cannot be treated as Bogus solely on the basis of Report of Income Tax Dept: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Capital-Gain-Sale-of-Share-Capital-Gain-from-Sale-of-Shares-Report-of-Income-Tax-Dept-ITAT-income-tax-taxscan.jpg "Capital Gain from Sale of Shares cannot be treated as Bogus solely on the basis of Report of Income Tax Dept: ITAT [Read Order]")
Income from Transfer of Listed Shares held for a period of more than 12 Months taxable as Capital Gains at the Desire of the Assessee: Calcutta HC [Read Order]
A Division Bench of the Calcutta High Court has recently dismissed the Income Tax Appeal of the revenue against M/s Century Plyboards (I) Ltd, holding that the income from transfer of listed shares...
![Income from Transfer of Listed Shares held for a period of more than 12 Months taxable as Capital Gains at the Desire of the Assessee: Calcutta HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Transfer-of-Listed-Shares-Listed-Shares-Income-from-Transfer-of-Listed-Shares-Capital-Gains-Desire-of-the-Assessee-Calcutta-Highcourt-taxscan.jpg "Income from Transfer of Listed Shares held for a period of more than 12 Months taxable as Capital Gains at the Desire of the Assessee: Calcutta HC [Read Order]")