Judgement

The ITAT Ahmedabad once the addition forming the basis of reopening is deleted, no fresh addition on another issue can survive.

ITAT Deletes Section 50C Addition After Reopening-Based Addition Was Deleted

ITAT condones delay, restores Section 50C appeal after finding denial of adequate hearing by CIT(A).

ITAT Remands Section 50C Addition After Finding Breach of Natural Justice

The Income Tax Appellate Tribunal (ITAT) Hyderabad has held that the tolerance band of 10% by the Finance Act, 2020 under Section 50C of the Income Tax Act, 1961 has retrospective application.

ITAT Grants Retrospective Benefit of 10% Tolerance Band under Section 50C And Deletes Capital Gain Addition

ITAT Deletes Section 50C Addition, Rejects Stamp Duty Value Where DVO Variation Was Within 15% Tolerance Limit.

ITAT Discards Stamp Duty Value, Accepts Declared Sale Consideration

The Income Tax Appellate Tribunal (ITAT) Bangalore has restored the matter relating to addition under Section 50C and denial of deduction under Section 54F to the Assessing Officer for fresh adjudication. The Tribunal also directed reconsideration of the exemption claimed under Section 54F in light of the Karnataka High Court ruling in CIT v. K. Ramachandra Rao.

Woman Sold Property for Rs. 1.56 Crore, Faced Capital Gains Recalculation Using Rs. 1.87 Crore Stamp Duty Value; ITAT Orders Fresh Examination of Section 50C and Section 54F Claims

The ITAT held that taxpayers can claim indexed cost of improvement while computing capital gains under Section 50C and directed the AO to verify the deduction amount.

Taxpayer Entitled To Indexed Cost Of Improvement Even Under Section 50C Capital Gains Computation, Holds ITAT

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