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ITAT Deletes Rs 2.94 Crore Cost of Improvement Disallowance by CPC
Hyderabad ITAT rules that the CPC cannot demand evidentiary verification under Section 143(1), deleting a Rs 2.94 crore cost of improvement disallowance.
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ITAT Mumbai Deletes Section 50C Addition Over Ignored DVO Reference
Learn how ITAT Mumbai deleted a Section 50C capital gains addition because the assessing officer finalized the assessment without awaiting the DVO report.
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ITAT Grants Section 54B Relief for Agricultural Land Purchases
Discover how the ITAT allowed a Section 54B tax deduction of Rs 15.22 lakh for purchasing agricultural land prior to the official sale deed.
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Understanding Share Trading Income: Capital Gains Versus Business Income
Learn how share trading income is taxed as capital gains or business income under CBDT Circular 6/2016 and the Income-tax Act.
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Income Tax Act 2025 vs 1961 Section Mapping Guide
Explore the section mapping cheat sheet comparing the Income-tax Act 2025 and 1961 for everyday provisions including deductions, TDS, TCS, and capital gains.
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ITAT Surat Orders Fresh Verification of 2.99 Crore Agricultural Land Capital Gains
ITAT Surat mandates a fresh assessment of 2.99 crore capital gains, agricultural land status, local population criteria, and Section 54B tax exemptions.
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Gross Land Sale Receipts Tax Ruling: ITAT Ahmedabad Protects Sellers
ITAT Ahmedabad rules that gross land sale receipts cannot be taxed without deducting documented purchase costs, deleting a major tax addition.
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ITAT Surat Approves Separate Land and Building Valuation in Composite Property Sales
ITAT Surat rules on composite property sales, accepting separate land and building valuations while permitting building WDV and brokerage deductions.
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ITAT Bangalore Rules Multiple Residential Units Qualify for Section 54 Exemption
Discover how ITAT Bangalore allowed Section 54 exemption for a residential house comprising multiple units, while invalidating expanded limited scrutiny.
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ITAT Mumbai Rules Section 48 Cannot Substitute Future Share Prices
ITAT Mumbai deletes a 97 crore capital gain addition, ruling that consideration from a later share transfer cannot be applied retrospectively.