![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]")
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...
![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]")
Mere Claim does not constitute Furnishing of Inaccurate Particulars for being Unsustainable: ITAT [Read Order]
In a recent judgement, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) upheld the order of the Commissioner of Income Tax (Appeals), asserting that simply making a claim that is not...
![Mere Claim does not constitute Furnishing of Inaccurate Particulars for being Unsustainable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-ITAT-Mumbai-ITAT-Upholds-CIT-A-Order-Income-Tax-Appellate-Tribunal-Furnishing-Particulars-taxscan.jpg "Mere Claim does not constitute Furnishing of Inaccurate Particulars for being Unsustainable: ITAT [Read Order]")
Cash Transaction for Property Registration: ITAT deletes Section 269SS Income Tax Penalty against Women with Elementary Knowledge [Read Order]
The Bangalore bench of Income Tax Appellate Authority ( ITAT ) deleted the penalty imposed on the assessee, who is a woman with elementary knowledge. The assessee, Pushpalatha had filed her Income...
![Cash Transaction for Property Registration: ITAT deletes Section 269SS Income Tax Penalty against Women with Elementary Knowledge [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-ITAT-Bangalore-Cash-Transaction-Property-Registration-Income-tax-penalty-taxscan.jpg "Cash Transaction for Property Registration: ITAT deletes Section 269SS Income Tax Penalty against Women with Elementary Knowledge [Read Order]")
Property Sale Income Kept For Investment will be Taxed under 'Capital Gains' under Income Tax Act: Kerala HC [Read Order]
In a recent case, the Kerala High Court has held that income from the sale of property kept for investment will be taxed under 'Capital Gains' under Income Tax Act, 1961. The court upheld the...
![Property Sale Income Kept For Investment will be Taxed under Capital Gains under Income Tax Act: Kerala HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-Capital-Gains-Kerala-HC-Sale-Income-ITAT-Kerala-High-Court-capital-accretion-taxscan.jpg "Property Sale Income Kept For Investment will be Taxed under Capital Gains under Income Tax Act: Kerala HC [Read Order]")
Property Buyers/Heirs from 2001 to Pay Higher Capital Gains Tax on Sale of Property due to Budget Impact: The End of Indexation Benefit
In the latest budget presented by the Finance Minister, a significant tax proposal has introduced a new dynamic to the property market, effectively creating two distinct classes among those intending...
