Budget 2020: Section 50C and 45CA Limit extended to 10% from 5%
Nirmala Sitharam, the Finance Minister of India presented the Union Budget for the Financial year 2020-21 wherein the budget proposed the extension...
![Section 54F Benefit not available If Assessee failed to deposit the unutilized amount in Capital Gains Scheme Account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/deduction-Section-54F-Taxscan.jpg "Section 54F Benefit not available If Assessee failed to deposit the unutilized amount in Capital Gains Scheme Account: ITAT [Read Order]")
![Income from Huge Magnitude of Sale and Purchase of Shares can’t be treated as Capital Gains: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/06/Sale-of-Shares-Tax-Scan.jpg "Income from Huge Magnitude of Sale and Purchase of Shares can’t be treated as Capital Gains: ITAT [Read Order]")
![Capital Gains from Penny Stocks can’t be treated as Bogus if Revenue does not prove that there is a Scam: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/03/Capital-Gain-Tax-Taxscan.jpg "Capital Gains from Penny Stocks can’t be treated as Bogus if Revenue does not prove that there is a Scam: ITAT [Read Order]")
![No Tax on Sale of Agricultural Land after its Conversion into ‘Industrial Land’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/02/Agricultural-Land.jpg "No Tax on Sale of Agricultural Land after its Conversion into ‘Industrial Land’: ITAT [Read Order]")
Sale of Shares in a Pvt Company by Assessee to Son in order to Book Losses so as to set-off Capital Gain from Sale of Property can’t be treated as Sham Transaction: ITAT [Read Order]
Recently, a two-member bench of Income Tax Appellate Tribunal ( ITAT ) at Mumbai in Madhu Sarda vs. Income Tax Officer held that merely because the assessee has claimed set off of loss on account...
![Sale of Shares in a Pvt Company by Assessee to Son in order to Book Losses so as to set-off Capital Gain from Sale of Property can’t be treated as Sham Transaction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/04/Capital-Gain-Sale-of-SHares-Taxscan.jpg "Sale of Shares in a Pvt Company by Assessee to Son in order to Book Losses so as to set-off Capital Gain from Sale of Property can’t be treated as Sham Transaction: ITAT [Read Order]")
![Profit on Sale of Shares is Taxable under the Head Capital Gain: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/11/Capital-Gain-Taxscan.jpg "Profit on Sale of Shares is Taxable under the Head Capital Gain: ITAT [Read Order]")
Receipt from Sale of Shares by a Share Broker is Taxable as ‘Capital Gains’: ITAT Mumbai [Read Order]
In ITO v. Kalpana Khandelwal, the Mumbai ITAT held that the amount received by a Share Broker is taxable as capital gain under the provisions of the Income Tax Act. The decision was based on the well...
![Receipt from Sale of Shares by a Share Broker is Taxable as ‘Capital Gains’: ITAT Mumbai [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/04/Share-Trading.jpg "Receipt from Sale of Shares by a Share Broker is Taxable as ‘Capital Gains’: ITAT Mumbai [Read Order]")
Gains from Purchase and Sale of Shares and Mutual Funds are Taxable under the head ‘Capital Gains’: Bombay HC [Read Order]
In CIT v. Mohan Vallabhdas Bhatiya, the division bench of the Bombay High Court held that under the Income Tax Act, the income arising out of the purchase and sale of shares and mutual funds are...
![Gains from Purchase and Sale of Shares and Mutual Funds are Taxable under the head ‘Capital Gains’: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/07/Shares-TaxScan.jpg "Gains from Purchase and Sale of Shares and Mutual Funds are Taxable under the head ‘Capital Gains’: Bombay HC [Read Order]")
No Penalty When the Addition is made by invoking sec 50C and No Incriminating material is found: ITAT Mumbai [Read Order]
In a recent ruling, the Mumbai bench of the ITAT observed that penalty under section 271(1)(c) of the Income Tax Act cannot be levied on the assessee when the addition is made by invoking section 50C...
![No Penalty When the Addition is made by invoking sec 50C and No Incriminating material is found: ITAT Mumbai [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/10/No-Penalty-TaxScan.jpg "No Penalty When the Addition is made by invoking sec 50C and No Incriminating material is found: ITAT Mumbai [Read Order]")
Income from Venture Capital and Private Equity Funds investing in Start-Ups is ‘Capital Gain’: CBDT [Read Letter]
Income from Sale of Unlisted Shares to be treated as ‘Capital Gains’ instead of ‘Business Income’. In a significant letter addressed to Chief Commissioners and Director Generals of Income Tax by...
![Income from Venture Capital and Private Equity Funds investing in Start-Ups is ‘Capital Gain’: CBDT [Read Letter]](https://www.taxscan.in/wp-content/uploads/2017/01/Start-ups-investing-Taxscan.jpg "Income from Venture Capital and Private Equity Funds investing in Start-Ups is ‘Capital Gain’: CBDT [Read Letter]")