Articles

Understand the capital gains tax in India from basic concepts to advanced exemptions

A Complete Guide to Capital Gains Tax in India

Judgement

The ITAT Ahmedabad rules a penalty under Section 271(1)(c) cannot be levied on estimated income or loose papers without corroborative evidence.

No Concealment Without Evidence; ITAT Deletes Penalty

The ITAT Ahmedabad rules state prior losses cannot be set off before the initial assessment year under Section 80-IA; capital subsidies are held non-taxable.

ITAT Sends Back 80-IA Issue; Capital Subsidy Treated as Non-Taxable

A routine tax filing turned into a dispute when the appellant, despite eligible income, was denied the Section 87A rebate by CPC. Rectification and first appeal failed, pushing the matter to the ITAT.

Rebate under Sec 87A cannot be denied just because income includes STCG (Sec 111A), if total income is below Rs. 7 lakh: ITAT

Tribunal accepts land sale explanation, condones delay, deletes addition for unexplained cash deposits.

ITAT Deletes Rs. 55.55 Lakh Addition; Delay Condoned for Agriculturist

The AO added ₹26.56 lakh as unexplained income based on alleged bogus share transactions. The ITAT found no direct evidence or nexus with the assessee and deleted the addition.

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A Complete Guide to Capital Gains Tax in India

No Concealment Without Evidence; ITAT Deletes Penalty

ITAT Sends Back 80-IA Issue; Capital Subsidy Treated as Non-Taxable

Rebate under Sec 87A cannot be denied just because income includes STCG (Sec 111A), if total income is below Rs. 7 lakh: ITAT

ITAT Deletes Rs. 55.55 Lakh Addition; Delay Condoned for Agriculturist

ITAT Ahmedabad Deletes Rs 26.56 Lakh Addition under Section 69A for Lack of Evidence