Category: Seven Star

Clipped from: https://taxguru.in/income-tax/capital-gain-tax-exemption-residential-property-landmark-judgments-part-a.html This article explores landmark judgments on capital gain tax exemptions under Sections 54 and 54F of the Income Tax Act, focusing on investments

Clipped from: https://taxguru.in/income-tax/taxability-capital-gains-joint-development-agreement.html For property owners seeking to commercialize their land, Joint Development Agreements (JDA) are one of the most sought out options. These agreements have

Clipped from: https://taxguru.in/income-tax/capital-gain-tax-reinstatement-indexation-benefit.html Summary: Finance Bill, 2024 introduced key amendments to Section 112 of the Income Tax Act, reducing the long-term capital gains tax rate from 20% to

https://taxguru.in/income-tax/capital-gain-tax-exemption-property-redevelopment.html Clipped from: https://taxguru.in/income-tax/capital-gain-tax-exemption-property-redevelopment.html 1. Redeveloping old buildings and societies is gaining momentum in major cities like Mumbai, Delhi-NCR, Surat, Bengaluru etc. Mumbai, India’s financial capital,

Clipped from: https://www.financialexpress.com/money/income-tax-rules-5-major-changes-in-the-last-6-months-every-taxpayer-should-know-3724749/ With Budget 2025 just around the corner, taxpayers eagerly anticipate what’s in store for their financial planning. The previous budget presented in July

Clipped from: https://taxguru.in/income-tax/triplex-flat-constitutes-single-residential-unit-section-54-exemption-itat-mumbai.html Bhaskar Prataprai Shah Vs DCIT (ITAT Mumbai) Income Tax Appellate Tribunal (ITAT) Mumbai addressed the appeal of Bhaskar Prataprai Shah regarding the rejection

Clipped from: https://www.financialexpress.com/money/harvest-tax-free-capital-gains-3718334/ Investors with a large portfolio of stock and equity mutual funds will have higher incremental gains. They must harvest the gains to ensure

Clipped from: https://taxguru.in/income-tax/section-54f-exemption-denied-delay-construction-statutory-timeline.html Smt. Lekha Reddy Mettu Vs ACIT (ITAT Hyderabad) In the case of Smt. Lekha Reddy Mettu vs. ACIT (ITAT Hyderabad), the Tribunal addressed appeals

Clipped from: https://www.financialexpress.com/money/no-way-to-declare-exempt-gift-in-itr-3719690/ Under the Income Tax Act, gifts received from specified relatives—such as parents, siblings, or spouses—are fully exempt from tax, irrespective of their value.

Clipped from: https://taxguru.in/income-tax/section-54f-exemption-allowed-land-purchased-2-years-residential-house-construction.html Viral Rajendra Patel Vs PCIT (ITAT Ahmedabad) Section 54F Exemption allowed even if land is purchased (for construction of a new residential house)

Clipped from: https://www.financialexpress.com/money/no-tax-liability-on-receiving-money-from-nri-relative-your-queries-answered-3725364/ Gift remittances are allowed under FEMA, and there are no specific restrictions on transferring money from an NRI’s foreign bank account to an

https://taxguru.in/income-tax/addition-ltcg-property-transfer-u-s-2-47-required-verification-buyer-possession-receipt-consideration.html Sane-Sec 87A – CTC – Bom HC – 24.01.2025

Clipped from: https://taxguru.in/income-tax/reassessment-issues-considered-original-assessment-valid-bombay-hc.html Sanjay Ratra Vs ACIT (Bombay High Court) In Sanjay Ratra vs. ACIT, the Bombay High Court dismissed a petition challenging reassessment proceedings initiated under

Clipped from: https://taxguru.in/income-tax/addition-u-s-68-bogus-ltcg-untenable-due-lack-adequate-evidence.html Sheela Ashok Bafna Vs ITO (ITAT Mumbai) ITAT Mumbai held that disallowance of claim of exemption u/s. 10(38) on alleged bogus LTCG untenable

Clipped from: https://taxguru.in/income-tax/addition-u-s-68-sustained-initial-onus-proving-identity-creditworthiness-genuineness-discharged.html ACIT Vs Jay Bharat Mehta (ITAT Mumbai) ITAT Mumbai held that addition towards section 68 of the Income Tax Act deleted as assessee