![A Mere Right to Sue Not Subject to Income Tax under Capital Gains, Not Transferable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/A-Mere-Right-to-Sue-Not-Subject-to-Income-Tax-under-Capital-Gains-Not-Transferable-ITAT-TAXSCAN.jpg "A Mere Right to Sue Not Subject to Income Tax under Capital Gains, Not Transferable: ITAT [Read Order]")
A Mere Right to Sue Not Subject to Income Tax under Capital Gains, Not Transferable: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that a mere right to sue could not be subject to income tax under the head of...
![Consideration from Sale of Agricultural Land not Taxable as ‘capital Gains’: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Consideration-from-Sale-of-Agricultural-Land-Consideration-Sale-of-Agricultural-Land-ITAT-deletes-Addition-capital-Gains-Agricultural-Land-not-Taxable-Income-Tax-ITAT-taxscan.jpg "Consideration from Sale of Agricultural Land not Taxable as ‘capital Gains’: ITAT deletes Addition [Read Order]")
![Co-owner Showing Different Capital Gains Amount not a Ground to Reopen Assessment: Gujarat HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Co-owner-Showing-Different-Capital-Gains-Amount-Reopen-Assessment-Gujarat-HC-TAXSCAN.jpg "Co-owner Showing Different Capital Gains Amount not a Ground to Reopen Assessment: Gujarat HC [Read Order]")
![Section 54F Deduction can be Allowed even if Amount not Deposited in Capital Gains Account Scheme: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Deduction-Amount-not-Deposited-Capital-Gains-Account-Scheme-Capital-Gain-ITAT-Income-Tax-Taxscan.jpg "Section 54F Deduction can be Allowed even if Amount not Deposited in Capital Gains Account Scheme: ITAT [Read Order]")
Reopening of Income Tax Assessment and Recalculation of Capital Gains without fresh Notice u/s 148 Invalid: ITAT quashes Proceedings [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has recently held that reopening of the Income Tax Assessment of the assessee and recalculation of Capital Gains without issuing fresh...
![Reopening of Income Tax Assessment and Recalculation of Capital Gains without fresh Notice u/s 148 Invalid: ITAT quashes Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Income-Tax-Assessment-Recalculation-of-Capital-Gains-Notice-ITAT-TAXSCAN.jpg "Reopening of Income Tax Assessment and Recalculation of Capital Gains without fresh Notice u/s 148 Invalid: ITAT quashes Proceedings [Read Order]")
Non-Specifying of Specific Limb in Penalty Notice will not Invalidate Penalty Proceedings When Assessee is a Non-filer: ITAT
The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) has held that non specifying of specific limb in penalty notice would not invalidate penalty proceedings when assessee had been a...
Builder’s Fault might cost you Additional Capital Gains Tax Liability u/s 54 IT Act: Here’s What You Need to Know
Section 54 of the Income Tax Act allows for an exemption on long-term capital gains tax for individuals and HUF (Hindu Undivided Family) if the proceeds from the sale of a long-term capital asset,...
AO and CIT(A) are Quasi Judicial Authorities Employed for Execution of Income Tax Act: ITAT slams 'Suspicious Transactions' made by Assessee [Read Order]
The Assessing Officer as well as the CIT(A) who are quasi-judicial authorities employed for execution of the provisions of the Income Tax Act.” The Pune Bench of the Income Tax Appellate Tribunal...
![AO and CIT(A) are Quasi Judicial Authorities Employed for Execution of Income Tax Act: ITAT slams Suspicious Transactions made by Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/AO-CITA-Quasi-Judicial-Authorities-Execution-of-Income-Tax-Act-ITAT-Suspicious-Transactions-Taxscan.jpg "AO and CIT(A) are Quasi Judicial Authorities Employed for Execution of Income Tax Act: ITAT slams Suspicious Transactions made by Assessee [Read Order]")
Capital Gains derived from Sale of Property set off under current year Business Loss: ITAT upholds Disallowance of Loss on account of write-off Inventory of Cotton [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has upheld the disallowance of loss on account of write-off inventory of cotton whenthe capital gains derived from sale of property set...
![Capital Gains derived from Sale of Property set off under current year Business Loss: ITAT upholds Disallowance of Loss on account of write-off Inventory of Cotton [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Capital-Gains-Business-Loss-ITAT-upholds-Disallowance-of-Loss-on-account-of-write-off-Inventory-of-Cotton-TAXSCAN.jpg "Capital Gains derived from Sale of Property set off under current year Business Loss: ITAT upholds Disallowance of Loss on account of write-off Inventory of Cotton [Read Order]")