![Mere Delay of Developer to Handover Possession of Flat would not Vitiate Claim of Assessee: ITAT Allows Capital Gain Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Delay-of-Developer-Possession-of-Flat-Flat-Claim-ITAT-Capital-Gain-Deduction-Capital-Gain-Deduction-ITAT-Allows-Capital-Gain-Deduction-taxscan.jpg "Mere Delay of Developer to Handover Possession of Flat would not Vitiate Claim of Assessee: ITAT Allows Capital Gain Deduction [Read Order]")
Mere Delay of Developer to Handover Possession of Flat would not Vitiate Claim of Assessee: ITAT Allows Capital Gain Deduction [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) held that mere delay on the part of the developer to hand over the possession of the flat...
![Monthly Rent paid by Company cannot be Allowed as Expenditure as Flat was Never Used for Business Purpose: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Monthly-Rent-paid-Rent-Monthly-Rent-Company-Expenditure-Business-Purpose-ITAT-Income-Tax-Income-Tax-Act-taxscan-.jpg "Monthly Rent paid by Company cannot be Allowed as Expenditure as Flat was Never Used for Business Purpose: ITAT [Read Order]")
![Date of Possession of Flat is “Date of Actual Purchase” for the Purpose of Claiming Capital Gain Exemption u/s 54: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Possession-of-Flat-Actual-Purchase-Capital-Gain-Exemption-ITAT-taxscan.jpg "Date of Possession of Flat is “Date of Actual Purchase” for the Purpose of Claiming Capital Gain Exemption u/s 54: ITAT [Read Order]")
![Utilization of Capital Gain within one year from taking possession of New Flat: ITAT allows Deduction u/s 54 and 54F [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Utilization-of-Capital-Gain-capital-gain-Flat-ITAT-Deduction-income-tax-taxscan.jpg "Utilization of Capital Gain within one year from taking possession of New Flat: ITAT allows Deduction u/s 54 and 54F [Read Order]")
![Notional Rent not applicable on a flat which is inhabitable and in a ruinous condition: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/07/Notional-Rent-ITAT-Flat-Taxscan.jpg "Notional Rent not applicable on a flat which is inhabitable and in a ruinous condition: ITAT [Read Order]")
Flat purchased for providing Residential Accommodation to Managing Director is a Business Necessity: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that when a company purchases flat for providing accommodation facility to its Managing Director, the tax benefits shall not be...
![Flat purchased for providing Residential Accommodation to Managing Director is a Business Necessity: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/07/Cenvat-Credit-Sale-Flat-Taxscan.jpg "Flat purchased for providing Residential Accommodation to Managing Director is a Business Necessity: ITAT [Read Order]")
Booking of Flat with Builder can be treated as ‘Construction of Flat’ for the purpose of Sec 54: ITAT follows CBDT Circular [Read Order]
While hearing the case of Vineet Kumar Kapila, Delhi bench of Income Tax Appellate Tribunal, followed the circular issued by the Central Board of Direct Tax (CBDT), ruled that booking of flat with the...
![Booking of Flat with Builder can be treated as ‘Construction of Flat’ for the purpose of Sec 54: ITAT follows CBDT Circular [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/02/Flat-Taxscan.jpg "Booking of Flat with Builder can be treated as ‘Construction of Flat’ for the purpose of Sec 54: ITAT follows CBDT Circular [Read Order]")
Amount given as Security for Purchase of Flat cannot be treated as ‘Deemed Dividend’: ITAT [Read Order]
In the case of DCIT vs. Smt. Sriram Satyavathi, Visakhapatnam bench of Income Tax Appellate Tribunal (ITA) recently held that amount given as security for purchase of flat cannot be treated as ‘deemed...
![Amount given as Security for Purchase of Flat cannot be treated as ‘Deemed Dividend’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Transfer-of-Possession-of-Flats-Taxscan.jpg "Amount given as Security for Purchase of Flat cannot be treated as ‘Deemed Dividend’: ITAT [Read Order]")
Private Terrace attached with Flat is ‘Built-Up’ Area for the Purpose of Deduction u/s 80-IB(10): ITAT Chennai [Read Order]
In a significant ruling, the ITAT Chennai held that the private open terrace attached with residential unit would form part of built-up area for the purpose of computing deduction under section...
![Private Terrace attached with Flat is ‘Built-Up’ Area for the Purpose of Deduction u/s 80-IB(10): ITAT Chennai [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/05/Private-Terrace-attached-with-Flat.jpg "Private Terrace attached with Flat is ‘Built-Up’ Area for the Purpose of Deduction u/s 80-IB(10): ITAT Chennai [Read Order]")