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Capital Gains

Deduction u/s 54F Cannot be Denied for Non-Deposit of Sale Proceeds Before Filing Return: ITAT [Read Order]

Sneha Sukumaran Mullakkal

The Chennai Bench of Income Tax Appellate Tribunal ( ITAT) held that deduction under Section 54F of Income Tax Act,1961, cannot not be denied solely...

Tax Authorities Disallow Set-Off of Business Losses Against Capital Gains: ITAT Sets Aside Order and...

ITAT Deletes Capital Gains Addition of Rs.55 Lakh from Noida Property, Allows S.54 Deduction After...

Deduction u/s 54F of Income Tax Act can be Allowed on Substantiating Assessee’s Intention to Repay...

Should You Join Infosys’ Buyback? Know the Tax Implications First

Income Tax Portal Rejects Returns with S.54/54F Deductions for FY 24-25: Practitioner Flags Issue to CBDT on X

Tax professionals, practitioners and filers have taken to X to highlight the struggles faced by them while trying to file their returns ahead of the September 15, 2025 deadline. The Income Tax ...

Countdown to 15th September: Here’s what Every Income Taxpayer Should Know

For Indian taxpayers, filing income tax returns (ITRs) is a requirement, which must be religiously filed every year. It allows individuals and businesses to declare income, record taxes paid, and...

House sold for ₹67 lakh but only ₹1,690 shown in ITR: Know how Section 54 exemption helped secure relief [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) partly allowed the appeal concerning the treatment of capital gains, cost of improvement, and deduction under Section 54 of the ...

Five Key Income Tax Changes for Salaried Employees: August 2025 Edition

Salaried employees witnessed important changes in income tax rules during August 2025, with the Central Board of Direct Taxes ( CBDT ) and recent legislative updates introducing measures that alter...

ITAT fixes FMV of Land at ₹60/sq.m for Capital Gain Calculation, directs AO to Verify Deduction u/s 54 [Read Order]

The Surat Bench of the Income Tax Appellate Tribunal (ITAT) has partly allowed the appeal by fixing the fair market value (FMV) of land at ₹60 per sq.m as on 01.04.1981 for capital gain computation...

Vintage Car Sale Liable to Capital Gains Tax if No Proof of Personal Use: Bombay HC [Read Order]

In a recent ruling, the Bombay High Court held that the sale of a vintage car is liable to capital gains tax if the assessee cannot prove that the car was used for personal purposes. Narendra...

ITAT remands Matter back to AO for Determination Fair Market Value Valuation in Distress Sale [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench has set aside the assessment for Satya Pal Khurana, directing the Assessing Officer (AO) to re-evaluate the fair market value of a shop sold...