theTaxTalk- Simplifying the tax law related to income tax and tax planning

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 Section 54F, home extension capital gains exemption, Bangalore ITAT Section 54F, construction of residential house, Section 54F latest judgment, capital gains exemption for house renovation, B.S...

Can Section 263 Be Invoked When There Is No Tax Loss to the Revenue? ITAT Kolkata Reiterates the Twin Conditions of Revision Keywords: Section 263 Income Tax Act, revision under Section 263, erroneous and prejudicial to revenue, Section 80IA deduction, ITAT Kolkata Section 263, Commissioner revision powers, no prejudice to revenue, twin conditions Section 263, deduction....

Legal Heir Is Not Always the Legal Representative: ITAT Agra Quashes Assessment Passed Without Proper Compliance Under Section 159 Keywords: legal heir vs legal representative, Section 159 Income Tax Act, assessment after death, notice to deceased person, ITAT Agra legal heir case, Chandrawati Devi vs ITO, assessment of deceased person, legal representative income tax, S...

Section 56(2)(x): Can Stamp Duty Value on Registration Date Trigger Tax Even When the Property Deal Was Finalised Years Earlier? ITAT Ahmedabad Says No     Keywords: Section 56(2)(x), stamp duty value, Jantri value, earlier agreement to sell, Banakhat, property registration, ITAT Ahmedabad, Section 56(2)(x) case law, banking channel payments, property purchased...

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 on multiple property sales, Bangalore ITAT Section 54, one residential house Section 54, capital gains exemption multiple houses, Section 54 Finance Act 2014, LTCG exemption, residential ...