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Section 54F Exemption Allowed for Multiple Residential Units: ITAT Hyderabad Gives Relief

Section 54F Exemption Allowed for Multiple Residential Units: ITAT Hyderabad Gives Relief   No plan approval requirement, no automatic denial for multiple units – ITAT explains wha...

Section 54GB Exemption on Start-up Investment: ITAT Allows ₹1.48 Crore Deduction

Section 54GB Exemption on Start-up Investment: ITAT Allows ₹1.48 Crore Deduction     Proportionate investment qualifies, extended deadline applies and there is no ₹50 lakh cap, say...

Section 54 Exemption Cannot Be Denied on Hyper-Technical Grounds: ITAT Bangalore

Section 54 Exemption Cannot Be Denied on Hyper-Technical Grounds: ITAT Bangalore   Substantial investment in construction of a residential house is enough where the assessee establ...

Section 50C Cannot Reduce Section 54F Exemption: ITAT Chennai

Section 50C Cannot Reduce Section 54F Exemption: ITAT Chennai   Stamp duty value cannot replace actual sale consideration for computing “net consideration” under Section 54F; full...

Section 54F Exemption Cannot Be Denied for Delay Beyond Taxpayer’s Control: Telangana High Court Grants Relief Despite 7...

Section 54F Exemption Cannot Be Denied for Delay Beyond Taxpayer’s Control: Telangana High Court Grants Relief Despite 7-Year Delay in Construction   Landmark Ruling on Joint Devel...

Section 54F Relief Available Even for Extension of an Existing House? Bangalore ITAT Says Yes

Section 54F Relief Available Even for Extension of an Existing House? Bangalore ITAT Says Yes Keywords: Section 54F construction, Section 54F existing house, structural additions S...

Section 54F Exemption Allowed on Property Purchased from Husband: ITAT Mumbai Says Genuine Tax Planning Is Not Tax Evasi...

Section 54F Exemption Allowed on Property Purchased from Husband: ITAT Mumbai Says Genuine Tax Planning Is Not Tax Evasion ₹6.91 crore exemption allowed where residential property...

Can You Claim Section 54 Exemption for Multiple Floors in One Redeveloped Building? ITAT Mumbai Gives a Big Relief

Can You Claim Section 54 Exemption for Multiple Floors in One Redeveloped Building? ITAT Mumbai Gives a Big Relief   Keywords: Section 54 redevelopment, multiple floors Section 54,...

Mumbai ITAT allows tax relief on two flats bought as one home

Mumbai's Income-Tax Appellate Tribunal has declared that two flats can be categorized as a single residential house. This pivotal decision paves the way for taxpayers to leverage d...

Sold Multiple Houses in the Same Year? ITAT Bangalore Rules Section 54 Exemption Is Available for Each House Separately

Sold Multiple Houses in the Same Year? ITAT Bangalore Rules Section 54 Exemption Is Available for Each House Separately   Keywords: Section 54 multiple houses, Section 54 exemption...

One House Sold… Two Houses Bought! Will Section 54 Still Save Your Tax?

One House Sold… Two Houses Bought! Will Section 54 Still Save Your Tax?   [Query 1] I am having an inherited house, 1 residential flat and a residential plot. My wife is having a r...

Procedural Lapse Cannot Defeat Substantive Tax Benefit: Telangana High Court Restores Section 115BAA Benefit Despite Del...

Procedural Lapse Cannot Defeat Substantive Tax Benefit: Telangana High Court Restores Section 115BAA Benefit Despite Delay in Filing Form 10-IC   A Landmark Judgment on “Genuine Ha...

Seized Excel Sheet, Cash Loans and Section 69: ITAT Upholds Addition When Assessee Could Not Explain the Entries

Seized Excel Sheet, Cash Loans and Section 69: ITAT Upholds Addition When Assessee Could Not Explain the Entries     80C and HRA claims also rejected for lack of evidence – ITAT Hy...

ITAT Hyderabad Grants FTC Relief Despite Delayed Form 67 Filing

The Income Tax Appellate Tribunal (ITAT), Hyderabad Bench, stated that the assessing officer must review the documents produced during the proceedings and concluded that the Foreig...

Late Filing of Form 10-IE Cannot Deny New Tax Regime Benefit: Hyderabad ITAT Delivers Landmark Relief Under Section 115B...

Late Filing of Form 10-IE Cannot Deny New Tax Regime Benefit: Hyderabad ITAT Delivers Landmark Relief Under Section 115BAC     Procedural Delay Cannot Defeat Substantive Tax Benefi...

No tax on value of new property under redevelopment agreement: ITAT

A tax tribunal has sided with property owners involved in redevelopment disagreements, annulling a significant Rs 1.3 crore tax increment on a newly developed property. The tribuna...

Section 153C Cannot Be Invoked After 1 April 2021 for an “Other Person” Merely Because the Search Was Conducted Earlier:...

Section 153C Cannot Be Invoked After 1 April 2021 for an “Other Person” Merely Because the Search Was Conducted Earlier: ITAT Bangalore   Landmark Ruling Clarifies That the Date of...

Section 43CA Cannot Be Applied to Land Sale Agreed Before Its Introduction: ITAT Jaipur

Section 43CA Cannot Be Applied to Land Sale Agreed Before Its Introduction: ITAT Jaipur   Where agreement to sell was executed before section 43CA came into force and substantial c...

No Tax, No Penalty: ITAT Mumbai Draws the Line on Section 270A Penalties for Charitable Trusts

No Tax, No Penalty: ITAT Mumbai Draws the Line on Section 270A Penalties for Charitable Trusts   The introduction of Section 270A of the Income-tax Act marked a significant shift i...

Finance Act 2026 Cannot Revive Invalid Reassessment Notices: Telangana High Court Upholds ITAT Order

Finance Act 2026 Cannot Revive Invalid Reassessment Notices: Telangana High Court Upholds ITAT Order Keywords: Finance Act 2026 reassessment, JAO reassessment notice, Faceless Asse...

CBDT grants retrospective income tax exemption to BBNDA under Section 10(46)

The CBDT has granted the Baddi Barotiwala Nalagarh Development Authority (BBNDA) a retrospective income tax exemption under Section 10(46) of the Income-tax Act, 1961. The exemptio...

Section 80P Deduction Can Be Claimed During Assessment Proceedings Even If Not Claimed in ITR: ITAT

Section 80P Deduction Can Be Claimed During Assessment Proceedings Even If Not Claimed in ITR: ITAT   Pune ITAT holds that for AY 2015-16, delayed or additional claim of Section 80...

Section 47(iv) Relief Upheld for Intra-Group Share Sale Ahead of Fast-Track Merger

Section 50C Addition Cannot Survive When AO Fails to Refer Valuation Dispute to DVO: ITAT

Section 50C Addition Cannot Survive When AO Fails to Refer Valuation Dispute to DVO: ITAT   Assessee disputed stamp duty value and specifically requested DVO reference, but AO proc...