![ITAT sets aside Income Addition and Capital Gains Tax due to Failure by Authorities to consider Key Evidence on Lands Municipal Status [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Income-Addition-Capital-Gains-Tax-Failure-Authorities-Key-Evidence-Lands-Municipal-Status-taxscan.jpg "ITAT sets aside Income Addition and Capital Gains Tax due to Failure by Authorities to consider Key Evidence on Lands Municipal Status [Read Order]")
ITAT sets aside Income Addition and Capital Gains Tax due to Failure by Authorities to consider Key Evidence on Land's Municipal Status [Read Order]
The Jodhpur Bench of Income Tax Appellate Tribunal ( ITAT ) set aside the addition of Rs. 72,14,060 to the assessee's income and the capital gains...
![AO Partially Disallows Property Improvement Costs; ITAT Allows Full Deduction, Accepting Architects Valuation [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/AO-ITAT-ITAT-Allows-Full-Deduction-Architects-Valuation-Income-tax-news-Income-tax-ITAT-news-calculation-of-Long-Term-Capital-Gains-Assessing-Officer-architects-valuation-certificate-Taxscan.jpg "AO Partially Disallows Property Improvement Costs; ITAT Allows Full Deduction, Accepting Architects Valuation [Read Order]")
![Full Sale Consideration taken Without Indexed Cost Adjustment in Capital Gain Calculation: Karnataka HC sets aside Income Tax Reassessment Notice [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Income-Tax-Income-Tax-Reassessment-Tax-Reassessment-Income-Tax-Reassessment-Notice-TAXSCAN.jpeg "Full Sale Consideration taken Without Indexed Cost Adjustment in Capital Gain Calculation: Karnataka HC sets aside Income Tax Reassessment Notice [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]](https://www.taxscan.in/wp-content/uploads/2024/10/Capital-Gains-Sale-of-Long-Term-Capital-Assets-Taxable-Rate-112-of-Income-Tax-Act-ITAT-taxscan.jpeg "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]")
![No Bar u/s 115 BAC to Carry Forward and Set off Losses Under Capital Gains: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Pune-Section-115BAC-of-the-Income-Tax-Act-Capital-Gains-Losses-Under-Capital-Gains-Carry-Forward-bar-carry-forward-ITAT-news-ITAT-updates-taxscan.jpg "No Bar u/s 115 BAC to Carry Forward and Set off Losses Under Capital Gains: ITAT [Read Order]")
ITAT upholds NFAC Order for Recomputation of Income as ‘Capital Gains’ due to Improper Classification u/s68 r.w.s. 115BBE [Read Order]
The Income Tax Appellate Tribunal (ITAT), Visakhapatnam recently upheld an order passed by the Commissioner of Income Taxes - National Faceless Appeals Centre (CIT(A)-NFAC) directing an Assessing...
![ITAT upholds NFAC Order for Recomputation of Income as ‘Capital Gains’ due to Improper Classification u/s68 r.w.s. 115BBE [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/capital-gain.jpg "ITAT upholds NFAC Order for Recomputation of Income as ‘Capital Gains’ due to Improper Classification u/s68 r.w.s. 115BBE [Read Order]")
Registration of House 24 months after Sale not ground to deny Exemptions u/s 54F: ITAT [Read Order]
The Visakhapatnam Bench of the Income Tax Appellate Tribunal ( ITAT ) recently held that a delay above 24 months to conduct registration of house after sale does not vitiate an Assessee’s ability to...
![Registration of House 24 months after Sale not ground to deny Exemptions u/s 54F: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Income-Tax-ITAT-Visakhapatnam-Income-Tax-Appellate-Tribunal-Income-tax-exemption-TAXSCAN.jpeg "Registration of House 24 months after Sale not ground to deny Exemptions u/s 54F: ITAT [Read Order]")
![Approval of S. 153D Assessment on Next day by Addl. CIT: ITAT quashes Demand Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Income-Tax-Assessment-Order-Section-153D-of-Income-Tax-Act-1961-TAXSCAN.jpg "Approval of S. 153D Assessment on Next day by Addl. CIT: ITAT quashes Demand Order [Read Order]")
![S.54F Deduction Fully Allowable on Capital Gains Reinvestment with Proforma Purchaser: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-ITAT-Pune-Deduction-S.54F-Deduction-Capital-Gains-Taxscan.jpg "S.54F Deduction Fully Allowable on Capital Gains Reinvestment with Proforma Purchaser: ITAT [Read Order]")
Capital Gains Taxation Should Be Based on Receipt of Possession, Not Occupancy Certificate: ITAT [Read Order]
Alagappa Muthiah (HUF), the appellant assessee, co-owned 6 acres 23.2 guntas of land in Hebbal Village. On 10/02/2011, he entered into a Development Agreement, resulting in the development of his...
![Capital Gains Taxation Should Be Based on Receipt of Possession, Not Occupancy Certificate: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Property-Tax-Liability-Occupancy-Certificate-Issuance-of-Occupancy-Certificate-Karnataka-High-Court-property-tax-payment-Property-Tax-Liability-taxscan.jpg "Capital Gains Taxation Should Be Based on Receipt of Possession, Not Occupancy Certificate: ITAT [Read Order]")