Union Budget 2024-25: Major Hike in Short Term, Long Term Capital Gains Tax Rates [Read Bill]
Union Finance Minister Nirmala Sitharaman has unveiled the Union Budget for the fiscal year 2024-25, detailing the financial roadmap and allocations...
![Taxpayer provides Full Details pertaining to LTCG as Exempt u/s 10(38) of Income Tax Act: ITAT quashes Reopening Assessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-ITAT-Delhi-Long-Term-Capital-Gain-Income-Tax-ReAssessment-Reopening-Assessment-Capital-Gains-Taxscan.jpg "Taxpayer provides Full Details pertaining to LTCG as Exempt u/s 10(38) of Income Tax Act: ITAT quashes Reopening Assessment [Read Order]")
![Capital Gains arising on Sale of Shares cannot be regarded as Sham Profit: ITAT deletes additions made u/s 69A of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/ITAT-ITAT-Delhi-Income-Tax-ITAT-deletes-additions-Capital-Gains-Sale-of-shares-Capital-Gains-arising-on-sale-of-shares-Shares-TAXSCAN.jpg "Capital Gains arising on Sale of Shares cannot be regarded as Sham Profit: ITAT deletes additions made u/s 69A of Income Tax Act [Read Order]")
![Mere Non Acceptance of Claim made by assessee would not lead to Automatic Levy of Penalty u/s 270A(9)(a): ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Non-Acceptance-Claim-Mere-Non-Acceptance-of-Claim-assessee-Levy-of-Penalty-taxscan.jpg "Mere Non Acceptance of Claim made by assessee would not lead to Automatic Levy of Penalty u/s 270A(9)(a): ITAT deletes Addition [Read Order]")
![No Addition of LTCG can be made u/s 69A on Account of Alleged Unexplained Investment in Jewellery: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/No-addition-of-LTCG-account-of-alleged-unexplained-investment-in-jewellery-ITAT-TAXSCAN.jpg "No Addition of LTCG can be made u/s 69A on Account of Alleged Unexplained Investment in Jewellery: ITAT [Read Order]")
ITAT deletes Long Term Capital Gains Addition on Forfeited Advance Amount without Transfer of Capital Asset [Read Order]
The Delhi bench (single member bench) of the Income Tax Appellate Tribunal (ITAT) recently deleted the long term capital gains addition on forfeited advance amount without transfer of capital asset. ...
![ITAT deletes Long Term Capital Gains Addition on Forfeited Advance Amount without Transfer of Capital Asset [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-deletes-Long-Term-Capital-Gains-ITAT-Long-Term-Capital-Gains-Forfeited-Advance-Amount-Advance-Amount-Transfer-of-Capital-Asset-Capital-Asset-Taxscan.jpg "ITAT deletes Long Term Capital Gains Addition on Forfeited Advance Amount without Transfer of Capital Asset [Read Order]")
Capital Gain Exemption u/s 54 cannot be Denied on Acquiring New House Property in the Name of Wife: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai Bench, has recently, in an appeal filed before it, held that capital gain exemption u/s 54 cannot be denied on acquiring new house property in the...
![Capital Gain Exemption u/s 54 cannot be Denied on Acquiring New House Property in the Name of Wife: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Capital-Gain-Exemption-House-Property-Wife-ITAT-TAXSCAN.jpg "Capital Gain Exemption u/s 54 cannot be Denied on Acquiring New House Property in the Name of Wife: ITAT [Read Order]")
Purchase of Property within Specified Period of One year before Sale of Capital Asset Allowable as Capital Gain exemption u/s 54F: ITAT [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has recently held purchase of property within specified period of one year before sale of capital asset allowable as capital gain exemption...
![Purchase of Property within Specified Period of One year before Sale of Capital Asset Allowable as Capital Gain exemption u/s 54F: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Purchase-of-Property-Specified-Period-of-One-year-before-Sale-of-Capital-Asset-Capital-Gain-exemption-ITAT-Taxscan.jpg "Purchase of Property within Specified Period of One year before Sale of Capital Asset Allowable as Capital Gain exemption u/s 54F: ITAT [Read Order]")
Capital Gains derived from Sale of Property set off under current year Business Loss: ITAT upholds Disallowance of Loss on account of write-off Inventory of Cotton [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has upheld the disallowance of loss on account of write-off inventory of cotton whenthe capital gains derived from sale of property set...
![Capital Gains derived from Sale of Property set off under current year Business Loss: ITAT upholds Disallowance of Loss on account of write-off Inventory of Cotton [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Capital-Gains-Business-Loss-ITAT-upholds-Disallowance-of-Loss-on-account-of-write-off-Inventory-of-Cotton-TAXSCAN.jpg "Capital Gains derived from Sale of Property set off under current year Business Loss: ITAT upholds Disallowance of Loss on account of write-off Inventory of Cotton [Read Order]")
ITAT directs to adopt Actual Sale Consideration instead of Stamp Duty Value for calculating Capital Gain Tax [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Jaipur Bench has been directed to adopt actual sale consideration instead of stamp duty value for calculating Capital gain tax. The appellant, Shri...
![ITAT directs to adopt Actual Sale Consideration instead of Stamp Duty Value for calculating Capital Gain Tax [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/ITAT-Actual-Sale-Consideration-Stamp-Duty-Value-Capital-Gain-Tax-taxscan.jpg "ITAT directs to adopt Actual Sale Consideration instead of Stamp Duty Value for calculating Capital Gain Tax [Read Order]")
Notice u/s 148 A can’t sustain if it was issued by Violation of Natural Justice Principle: Delhi HC [Read Order]
In a recent ruling, the Delhi High Court has held that notice u/s 148A can’t sustain if it was issued by violation of the natural justice principle and quashed the notice issued by the AO. The...
![Notice u/s 148 A can’t sustain if it was issued by Violation of Natural Justice Principle: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Delhi-High-Court-Notice-violation-natural-justiceprinciple-HC-taxscan.jpeg "Notice u/s 148 A can’t sustain if it was issued by Violation of Natural Justice Principle: Delhi HC [Read Order]")
