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Sale Deed Classified as Capital Asset, Qualifies for Long-Term Capital Gain Deduction under Section 54B: ITAT [Read Order]

Aiswarya Krishnadas

In a recent decision the Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) observed that sale deed classified as capital asset, qualifies...

Non-Consideration of Sale Deed to determine Nature of Sold Land as Agricultural: ITAT directs...

No Addition shall be made towards part of amount received from Construction Activities in Villa...

Transfer of Title in Respect of Immovable Property takes place Only through a Registered Sale Deed:...

No “Purchase” If Sale Deed Executed in favor of Assessee to Claim Capital Gain exemption u/s 54/54F:...

TDS Credit cannot be Denied to Developer following Percentage Completion Method If Buyer Deducted Tax at the Time of Execution of Sale Deed: ITAT [Read Order]

The Ahmedabad bench of Income Tax Appellate Tribunal recently held Tax Deduction at Source could not be denied to developer following percentage completion method if buyer deducted Tax at the time of...

Sale Deed was Completed by Proper Registration: ITAT confirms Income Tax Addition on LTCG [Read Order]

The Income Tax Appellate Tribunal (ITAT), Indore Bench confirmed Income Tax Addition on Long Term Capital Gain (LTCG), as sale deed was completed by proper registration. The assessee, Ambesh...

Nature of Land Sold is to be Ascertained based on Sale Deed Executed: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench has held that the nature of land sold is to be ascertained based on the sale deed executed. The appellant, Phool Singh is an agriculturist....

No Scope for Extrapolate and Estimate Undisclosed Income for Block Assessment Proceedings: ITAT [Read Order]

The Chennai bench of Income Tax Appellate Tribunal has held that no scope for extrapolate and estimate undisclosed income for block assessment proceedings. During the course of assessment...

Completion of Construction irrelevant to Apply S. 54F: ITAT allows Capital Gain exemption since Sale Deed was Registered within Prescribed Time [Read Order]

The Bangalore bench of the ITAT has held that the date of completion of construction of new property is irrelevant to allow exemption under section 54F of the Income Tax Act, 1961 and the same is...

Sale Deed Executed without Payment of Price is Void as payment of Price is an essential part of a Sale: Supreme Court [Read Judgment]

The Supreme Court held that the Sale Deed executed without payment of the price is void as payment of the price is an essential part of a sale. The appellant, Kewal Krishan executed a power of...

Capital Gain Exemption can't be granted merely on basis of facts mentioned in Sale Deed: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai bench has held that the capital gain exemption under section 54F of the Income Tax Act, 1961 cannot be granted to the assessee merely on the basis of...