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Fair Market Value

ITAT fixes FMV of Land at ₹60/sq.m for Capital Gain Calculation, directs AO to Verify Deduction u/s 54 [Read Order]

Akhaigha T Josh

The Surat Bench of the Income Tax Appellate Tribunal (ITAT) has partly allowed the appeal by fixing the fair market value (FMV) of land at ₹60 per...

ITAT remands Matter back to AO for Determination Fair Market Value Valuation in Distress Sale [Read...

Capital Gain Disputes: How to Defend Property Valuation Challenges before Authorities

Validity of Share Premium Valuation u/s 56(2)(viib): ITAT Deletes AO's Addition, Accepts DCF Method...

Difference Between Allotted and Market Price of ESPS Shares Not Taxable as Perquisite u/s...

Sale of Flat Classified as Long-Term Capital Gain Based on Previous Owner's Holding Period: ITAT Overturns CIT(A) Order [Read Order]

In the recent case, the Delhi bench of Income Tax Appellate Tribunal(ITAT) overturned the Commissioner Of Income Tax (Appeals)[CIT(A)]'s ruling, classifying the sale of the Faridabad flat as a...

Half Yearly Income Tax Digest: ITAT Rulings 2024 [Part VI]

This half-yearly round-up analytically summarizes the key direct tax decisions of the Income Tax Appellate Tribunal (ITAT) reported at Taxscan.in during the first half of 2024. No Addition u/s 68...

AO cannot change Valuation Method Opted by Taxpayer: Delhi HC directs AO to determine FMV of Shares Bearing DCF method in Mind [Read Order]

The Delhi High Court Directed the Assessing Officer ( AO ) to determine fair market value ( FMV ) of shares bearing in mind the discounted cash Flow ( DCF ) method, prohibiting AO from Altering...

AO cannot - Valuation Method Opted by Taxpayer - Delhi HC directs AO - FMV of Shares Bearing DCF method in Mind - taxscan

Holding-Subsidiary Transaction Excludes S. 56(2) (viib) Taxation in Absence of any Benefit Occurring to any Outsider: ITAT deletes Addition [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has deleted the addition made, as the holding-subsidiary transaction does not attract taxation under Section 56(2)(viib) of the Income Tax...

No addition on account of Share Premium received in excess of FMV u/s 56(2)(viib) of Income Tax Act: ITAT [Read Order]

The Delhi bench of Income Tax Appellate Tribunal (ITAT) recently held that no addition shall be made on account of share premium received in excess of Fair Market Value (FMV) under Section...

Leasehold Interest in Land is Asset of Company and Capable of Valuation: J&K and Ladakh HC [Read Order]

The Jammu and Kashmir and Ladakh High Court ruled that leasehold interest in land is asset of company and capable of valuation. The Assessing Officer adopted the indexed cost of 7150 shares at...

Leasehold Interest - Interest in Land - Jammu and Kashmir High Court - Asset of Company - TAXSCAN

Accepting stamp authority valuation not proof of incorrect sale consideration: ITAT removes penalty u/s 271(1)(c) of Income Tax Act [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the penalty under Section 271(1)(c) of the Income Tax Act, 1961, stating that merely agreeing to an addition based on the...