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Capital Gain

Income from Sale of Residential Flats obtained under Joint Development Agreement Taxable as Capital Gain, Not Business Income: ITAT [Read Order]

The Bangalore Income Tax Appellate Tribunal (ITAT) has recently held that income from sale of residential flats obtained under the joint development...

Agricultural Land is Not Capital Asset u/s 2(14)(iii)(b) of Income Tax Act, No Capital Gain: ITAT...

S. 50C of Income Tax Act Not Applicable on Compulsory Acquisition of Land: Calcutta HC [Read Order]

Rules framed by Board are Statutory in Nature: ITAT notes no violation of Rule 46A of Income Tax...

Capital Gain Deduction u/s 54F cannot be Denied If Assessee Entered into Agreement to Sale within...

Enhanced Compensation with Interest for Compulsory Acquisition of Agricultural Land Exempted u/s 10(37) of Income Tax Act: ITAT [Read Order]

The Bench of Income Tax Appellate Tribunal (ITAT) enhanced the compensation with interest for acquisition of agricultural land exempted under section 10(37) of Income Tax Act, 1961. Manjeet Sing...

Transaction cannot be treated as “Real Estate” If Property held for a Long Time: ITAT [Read Order]

The Delhi bench of Income Tax Appellate Tribunal (ITAT) recently held that transactions could not be treated as real estate if property was held for a long time. Assessee Vaijanti Jain, G filed...

Capital Gain Exemption u/s 54F cannot be Allowed for Sale and Purchase of Plots: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Hyderabad Bench, has recently, in an appeal filed before it, held that capital gain exemption under section 54F cannot be allowed for sale and purchase of...

ITAT Weekly Round-Up

This weekly round-up analytically summarizes the key stories related to the Income Tax Appellate Tribunal ( ITAT ) reported at Taxscan.in during the previous week from February 12 to February 18,...

Bogus Capital Gain,No adverse inference could be drawn against Assessee based on Misuse of Share Market by some persons: ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that adverse inference can’t be drawn against the assessee based on misuse of the share market to bogus capital gain by some...

Income from Sale of Land held as “Stock-in-Trade” by Builder Taxable as “Business Income”, Not “Capital Gain”: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) Chennai Bench has recently, in an appeal filed before it, held that the Income from sale of Land considered as “Stock-in- Trade” by builder and Taxable...

ITAT Confirms Denial of Tax Benefit u/s.54 for Non-Deposit in Capital Gain Account Scheme: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) Chennai Bench has recently, in an appeal filed before it, confirmed the denial of Tax benefit u/s.54 for non-deposit in Capital Gain Account Scheme. ...

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