![Sec. 50C cant be applied in the Year of Registration of Sale Deed without Actual Transfer as the same was merely a Formality: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/Registration-of-Sale-Deed-Actual-Transfer-ITAT-Taxscan.jpg "Sec. 50C cant be applied in the Year of Registration of Sale Deed without Actual Transfer as the same was merely a Formality: ITAT [Read Order]")
Sec. 50C can't be applied in the Year of Registration of Sale Deed without Actual Transfer as the same was merely a Formality: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Bangalore held, Section 50C of the Income Tax Act can't be applied in the Year of Registration of Sale Deed...
![Assessee in principle entitled to Claim Deduction of Gratuity paid before Appellate Authorities: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/deduction-of-gratuity-appellate-authorities-ITAT-Taxscan.jpg "Assessee in principle entitled to Claim Deduction of Gratuity paid before Appellate Authorities: ITAT [Read Order]")
![Relief to Congress Leader N A Haris: ITAT directs AO to Re-Assess Income earned from FDs by examining Bank Statements [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/ITAT-AO-tax-correct-income-earned-FDs-examining-bank-statements-Taxscan.jpeg "Relief to Congress Leader N A Haris: ITAT directs AO to Re-Assess Income earned from FDs by examining Bank Statements [Read Order]")
![ITAT quashes Reassessment proceedings against Nike India [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/ITAT-Reassessment-proceedings-Nike-India-Taxscan.jpg "ITAT quashes Reassessment proceedings against Nike India [Read Order]")
![Internal financial arrangements to Fund Expenditure can’t disentitle assessee to claim Employee benefit expenses, Depreciation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/Internal-financial-arrangements-fund-expenditure-assessee-employee-benefit-expenses-depreciation-ITAT-Taxscan.jpg "Internal financial arrangements to Fund Expenditure can’t disentitle assessee to claim Employee benefit expenses, Depreciation: ITAT [Read Order]")
ITAT allows time to produce relevant documents for claiming Exemption u/s 54 on Property constructed on Revenue Land [Read Order]
The Income Tax Appellate Tribunal (ITAT) Bangalore on February 4th allowed an assessee an opportunity to produce all the relevant documents for claiming under section 54 of the Income-tax act on...
![ITAT allows time to produce relevant documents for claiming Exemption u/s 54 on Property constructed on Revenue Land [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/ITAT-Property-Constructed-Revenue-Land-Claiming-Exemption-Assessing-Officer-Taxscan.jpg "ITAT allows time to produce relevant documents for claiming Exemption u/s 54 on Property constructed on Revenue Land [Read Order]")
LTCG to be computed on the basis of Guidance Value of Property as on date of Sale Agreement, not on date of Sale Deed: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench held that the long term capital gains (LTCG) to be computed on the basis of guidance value of the property as on date of Sale Agreement, not...
![LTCG to be computed on the basis of Guidance Value of Property as on date of Sale Agreement, not on date of Sale Deed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/LTCG-guidance-value-of-property-Sale-Agreement-Sale-Deed-ITAT-Taxscan.jpeg "LTCG to be computed on the basis of Guidance Value of Property as on date of Sale Agreement, not on date of Sale Deed: ITAT [Read Order]")
![ITAT deletes Penalty on Undisclosed Income as Search wasn’t initiated [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/01/Undisclosed-Income-Search-ITAT-Penalty-Income-taxscan.jpg "ITAT deletes Penalty on Undisclosed Income as Search wasn’t initiated [Read Order]")
Capital Gain Deduction allowable for Eight Flats received under Joint Venture Agreement: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Banglore Bench held that the capital gain deduction is allowable for eight flats received under Joint Venture Agreement. The assessee, Maurice Patrick De...
![Capital Gain Deduction allowable for Eight Flats received under Joint Venture Agreement: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/01/Capital-Gain-Deduction-Flats-Joint-Venture-Agreement-ITAT-Taxscan.jpg "Capital Gain Deduction allowable for Eight Flats received under Joint Venture Agreement: ITAT [Read Order]")
Income received during negotiation for Transfer of Capital Asset as ‘Other Income’, Usage of Fund can’t be a Reason to impose Tax Liability: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench held that the usage of fund cannot be the reason to impose tax liability. The assessee filed his return of income for the assessment year...
![Income received during negotiation for Transfer of Capital Asset as ‘Other Income’, Usage of Fund can’t be a Reason to impose Tax Liability: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/10/ITAT-Tax-Liability-Usage-Fund-Income-impose-Tax-Liability-Capital-Asset-Other-Income-Taxscan.jpg "Income received during negotiation for Transfer of Capital Asset as ‘Other Income’, Usage of Fund can’t be a Reason to impose Tax Liability: ITAT [Read Order]")
Foreign Exchange Loss on Repayment of Borrowings is Revenue Expenditure: ITAT allows Relief to Cafe Coffee Day [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore has granted relief to Cafe Coffee Day and held that foreign exchange loss due to the reinstatement of the accounts at the end of the financial year...
![Foreign Exchange Loss on Repayment of Borrowings is Revenue Expenditure: ITAT allows Relief to Cafe Coffee Day [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/02/Cafe-Coffee-Day-Foreign-Exchange-Revenue-Expenditure-ITAT-Taxscan.jpg "Foreign Exchange Loss on Repayment of Borrowings is Revenue Expenditure: ITAT allows Relief to Cafe Coffee Day [Read Order]")