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CBDT Notifies Cost Inflation Index at 376 for New Financial Year, Applicable from April 1 [Read Notification]

Sneha Sukumaran Mullakkal

The Ministry of Finance has notified the Cost Inflation Index (CII) for the financial year 2025-26 as 376, through Notification No. 70/2025 dated...

ITAT directs AO to allow cost of Improvement with Indexation and Re-Compute Capital Gains u/s 48 of...

Valuation of Sale Consideration shall be made after seeking Valuation Report from Valuation Officer...

Indexed Cost of Improvement Incurred Wholly and Exclusively for Transfer of Asset Allowable as...

Case Digest: Capital gain on Property (Part -2)

Assessments in Limited Scrutiny Cases only with the Approval of Principal Commissioner: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Lucknow, held that the jurisdiction of the Assessing Officer while making assessments in Limited Scrutiny cases, by initiating inquiries on new issues has to...

ITAT Annual Digest [Part 59]

This yearly digest analyses all the ITAT stories published at taxscan.in in 2023 Deletion of Income Tax Addition on successful Demonstration of Source of Cash Deposits to bank during...

Amount paid for Land enhancement is Capital Expenditure, can avail Deduction u/s 48: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT)of the Mumbai bench held that the amount paid for land enhancement is capital expenditure and can avail deduction under section 48 of the Income Tax Act,1961. ...

Portfolio Management Services Fee is deductible from Capital Gain: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Kolkata has held that the fee paid in respect of the Portfolio Management Services can be deducted while computing the Short-Term Capital Gain. The assessee...

Penalty u/s 271(1)(c) can’t be Imposed when Income is determined on Estimate Basis: ITAT [Read Order]

In ACIT vs. Eagle Theatres, the Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that penalty under Section 271(1)(c) of the Income Tax Act, 1961 cannot be imposed when income is...

Understatement of Consideration must be established before taking Market Value of Share Capital Asset as Full value of Consideration: Delhi HC [Read Judgment]

In Arjun Malhotra vs. Commissioner of Income Tax, the Delhi High Court held that the market value of the shares quoted in the stock exchange on 5th May, 1998 cannot be taken indirectly invoking an...

Value as per the Stamp Valuation Authorities must be adopted for Computing Capital Gain If Stamp Duty and Registration Cost is borne by Vendor: ITAT

In cases where the stamp duty and registration cost is borne by the vendor, the consideration received by the vendor would be reduced. In such cases, the value as per the stamp valuation authorities...