Income Tax Department Conducts Search at Registered and Branch Offices of Prestige Group
The Income Tax Department of India has launched a search operation at the registered office and branch offices of Prestige Estates Projects...
![IRP/RP Mandates to Operate Separate Bank Accounts for Real Estate Projects: IBBI notifies new Regulations [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/02/IBBI-Insolvency-and-Bankruptcy-Board-of-India-IBBI-New-Regulations-Real-Estate-IRP-RP-Bank-Account-Mandate-Taxscan.jpg "IRP/RP Mandates to Operate Separate Bank Accounts for Real Estate Projects: IBBI notifies new Regulations [Read Notification]")
Mere Transfer of Real Estate and Construction Business is not Succession of firm, Sale Consideration not subject to Capital Gains: ITAT [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has held that the mere transfer of real estate and construction business is not a case of succession of the firm by a company...
![Mere Transfer of Real Estate and Construction Business is not Succession of firm, Sale Consideration not subject to Capital Gains: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Mere-Transfer-Real-Estate-Construction-Business-Sale-Consideration-Capital-Gains-ITAT-taxscan.jpg "Mere Transfer of Real Estate and Construction Business is not Succession of firm, Sale Consideration not subject to Capital Gains: ITAT [Read Order]")
Land not a Capital Asset but a “Work-in-Progress” for Real Estate Company, Expenses to be treated as Revenue Expenditure: ITAT
The Income Tax Appellate Tribunal (ITAT), Bangalore bench has held that Land is not a Capital Asset but a 'Work-in-Progress' for a Real Estate Company. It was also observed that the Expenses incurred...
![Transaction cannot be treated as “Real Estate” If Property held for a Long Time: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Transaction-Real-Estate-Property-held-for-a-Long-Time-ITAT-Taxscan.jpg "Transaction cannot be treated as “Real Estate” If Property held for a Long Time: ITAT [Read Order]")
RBI enhances Individual Housing Loan limits and credit to Commercial Real Estate - Residential Housing [Read Circular]
As announced in the Statement on Developmental and Regulatory Policies, it has been decided by the Reserve Bank of India to revise the limits on residential housing loans sanctioned by rural...
Reassessment cannot be invoked when Original Assessment concluded after receipt of Satisfactory Reply on Similar Queries: Bombay HC [Read Order]
A division bench of the Bombay High Court while setting aside the notice issued for reassessment under section 148 of Income Tax Act, 1961 held that Reopening of assessment cannot be invoked...
![Reassessment cannot be invoked when Original Assessment concluded after receipt of Satisfactory Reply on Similar Queries: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Reassessment-Income-Tax-Act-High-Court-notice-for-Reassessment.jpeg "Reassessment cannot be invoked when Original Assessment concluded after receipt of Satisfactory Reply on Similar Queries: Bombay HC [Read Order]")
![Eviction Charges paid are allowable as Business Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Eviction-charges-business-expenditure-ITAT-taxscan.jpeg "Eviction Charges paid are allowable as Business Expenditure: ITAT [Read Order]")