In a significant development, the Income Tax Appellate Tribunal (ITAT) in Chennai has clarified that under Section 54F of the Income Tax Act, the exemption from long-term capital gains tax extends to the entire investment in a new residential property, …
Introduction The Income Tax Appellate Tribunal (ITAT), Delhi Bench, in its order dated 9 September 2025, delivered an important ruling on the availability of capital gains exemption under Section 54F of the Income-tax Act, 1961 to a private trust. The Tribunal held that where …
Tax Exemption on Long-Term Capital Gain on Sale of Jewellery to Purchase a House. Capital Gain Tax Exemption on Sale of Jewellery: Are you considering selling your jewellery to fund your dream home? Understanding the tax implications and exemptions can …
Capital Gain on Compulsory Acquisition of Immovable Property: Section 45(5) In the realm of income taxation in India, when a government agency necessitates any compulsory acquisition of land, it is considered a transfer according to the provisions outlined in Section …
Facts of the Case In a recent judgment on 12th September 2023, the Bombay High Court ruled on a case involving the amendment of Section 54F in 2015 and its prospective application. The case, Hemant Dinkar Kandlur Vs Commissioner of …