Invalid Reassessment Order as Mismatch in Reason Recorded in Reopening and Reason Supplied to assessee: Supreme Court Allows Exemption in Filing Verified Copy of ITAT Order
The Supreme Court has allowed the application seeking exemption in filing a verified copy of the Income Tax Appellate Tribunal Order (ITAT) wherein...
![Difference in dates of Agreement fixing for Consideration and Registration Of Property : ITAT directs to take Date of Agreement adopted by SVA for Compute Full Value Consideration [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Difference-dates-of-Agreement-Agreement-Registration-Of-Property-Registration-Property-taxscan.jpg "Difference in dates of Agreement fixing for Consideration and Registration Of Property : ITAT directs to take Date of Agreement adopted by SVA for Compute Full Value Consideration [Read Order]")
![Disallowance of Bogus LTCG is Invalid in Absence of Incriminating Material: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/LTCG-income-tax-income-taxs-news-Incriminating-Material-Disallowance-of-Bogus-Income-Tax-act-TAXSCAN.jpg "Disallowance of Bogus LTCG is Invalid in Absence of Incriminating Material: ITAT [Read Order]")
ITAT upholds Addition on LTCG u/s 50C based on Unregistered Deeds merely Entered in Judicial Stamp Papers [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has upheld the addition of Long-Term Capital Gain (LTCG) under Section 50C of the Income Tax Act based on the unregistered deed merely entered...
![ITAT upholds Addition on LTCG u/s 50C based on Unregistered Deeds merely Entered in Judicial Stamp Papers [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-Addition-on-LTCG-Unregistered-Deeds-merely-Entered-in-Judicial-Stamp-Papers-TAXSCAN.jpg "ITAT upholds Addition on LTCG u/s 50C based on Unregistered Deeds merely Entered in Judicial Stamp Papers [Read Order]")
FMV of Agricultural Land to be Determined according to the Guidelines of the FY in which assessee Received Entire Amount of Sale Consideration: ITAT Dismisses Revenue Appeal [Read Order]
The Raipur Bench of Income Tax Appellate Tribunal (ITAT) held that where the date of agreement fixing the amount of consideration and the date of registration for the transfer of the capital asset...
![FMV of Agricultural Land to be Determined according to the Guidelines of the FY in which assessee Received Entire Amount of Sale Consideration: ITAT Dismisses Revenue Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/FMV-of-Agricultural-Land-to-be-Determined-according-Guidelines-of-the-FY-in-which-assessee-Received-Entire-Amount-of-Sale-Consideration-ITAT-Dismisses-Revenue-Appeal-TAXSCAN.jpg "FMV of Agricultural Land to be Determined according to the Guidelines of the FY in which assessee Received Entire Amount of Sale Consideration: ITAT Dismisses Revenue Appeal [Read Order]")
Indexation of Cost of Acquisition for calculation of LTCG is available from the AY in which Consideration is fully paid by Assessee: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Cuttack Bench has held that indexation of Cost of Acquisition of property is available for the purpose of computation of Long Term Capital Gain (LTCG) from...
![Indexation of Cost of Acquisition for calculation of LTCG is available from the AY in which Consideration is fully paid by Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Indexation-of-Cost-of-Acquisition-for-calculation-of-LTCG-is-available-from-the-AY-which-Consideration-is-fully-paid-by-Assessee-ITAT.jpg "Indexation of Cost of Acquisition for calculation of LTCG is available from the AY in which Consideration is fully paid by Assessee: ITAT [Read Order]")
Consideration From Sale of Jointly Owned Property cannot be Treated as Long Term Capital Gain of a Co-owner Alone: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has recently, in an appeal filed before it, held that consideration from sale of jointly owned property cannot be treated as long term...
![Consideration From Sale of Jointly Owned Property cannot be Treated as Long Term Capital Gain of a Co-owner Alone: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Consideration-From-Sale-Sale-of-Jointly-Owned-Property-Treated-as-Long-Term-Capital-Gain-Capital-Gain-Long-Term-Capital-Gain-of-a-Co-owner-Alone-ITAT-Income-Tax-taxscan.jpg "Consideration From Sale of Jointly Owned Property cannot be Treated as Long Term Capital Gain of a Co-owner Alone: ITAT [Read Order]")
Duty of ITO is to infer Conclusions from Primary Facts; No Force on Assessee to disclose facts beyond limits: Bombay HC
Bombay High Court (HC) presided by Justices Dhiraj Singh Thakur and Kamal Khatia ruled that the Income Tax Officer has to infer the conclusions from the primary facts stated by the assessee. The...
No Proof for Completion of Construction within 3 Years: ITAT denies Capital Gain Exemption Claim u/s 54F of IT Act [Read Order]
The Bangalore Income Tax Appellate Tribunal (ITAT) has recently held that assessees could not claim capital gain exemption under section 54F of Income Tax Act 1961 if there was no proof for...
![No Proof for Completion of Construction within 3 Years: ITAT denies Capital Gain Exemption Claim u/s 54F of IT Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Completion-of-Construction-ITAT-Construction-Capital-Gain-Exemption-Claim-Income-Tax-taxscan.jpg "No Proof for Completion of Construction within 3 Years: ITAT denies Capital Gain Exemption Claim u/s 54F of IT Act [Read Order]")