Search Results for Tag : capital
International Cases
Intention of Parliament must be clearly found on wording of legislation(22.05.2019)
By present appeal, Mr. and Mrs. Hancock seek to show that, the redemption of the loan notes, issued to them in connection with the sale of their share.....
Tags : Charge, Capital gains, Exemption
Top Story
Government Approves Ordinance for Capital Punishment to Child Rapists(21.04.2018)
In wake of recent horrific incidents of child rapes in different parts of country, the Central Government has approved an Ordinance for providing stri.....
Tags : Capital Punishment, Ordinance, Approval
Central Government approves capital infusion in Export Credit Guarantee Corporation Ltd.(27.06.2018)
The Cabinet Committee on Economic Affairs chaired by Prime Minister has approved the capital infusion of Rs. 2000 crore for strengthening of Export Cr.....
Tags : Capital infusion, Approval, MSME exports
Ministry of Corporate Affairs revises threshold for paid up capital of “small companies”(16.09.2022)
The Central Government amends the Companies (Specification of Definition Details) Rules, 2014. These rules may be called Companies (Specification of d.....
Tags : Definition, Amendment, Paid-up capital
Central Government approves recapitalisation of Export-Import Bank of India(16.01.2019)
The Union Cabinet, chaired by the Prime Minister has approved the recapitalization of EXIM Bank. Recapitalization Bonds by Government of India to the.....
Tags : Recapitalisation, Exim bank, Approval
Judgments
Applicant is not chargeable to capital gains tax in India as control and management of affairs of company, particularly all financial affairs were situated only in Mauritius(08.08.2016)
Applicant had acquired 9,931,638 shares (representing about 8.12% – holding) in Tech Mahindra Limited, India (“TML”) which is listed on Bombay stock e.....
Tags : Capital gains, Levy, Country
Terminated venture between HP and HCL not chargeable to capital gains tax(21.12.2015)
The Delhi High Court ruled in favour of HCL Infosystems in a long running tax case arising from termination of a joint venture agreement between HCL a.....
Tags : Capital gains, joint venture, right to manufacture, section 55
Profits on sale of shares were liable to taxed under the head capital gains(27.11.2017)
This appeal has been filed by the Revenue for challenging the order of CIT(A) for treating the profit earned by the Assessee from the sale of shares u.....
Tags : Capital Gains, Sale of shares
Assessee is not liable for tax on capital gain, when Assessee is neither a signatory to subsequent Sale Deed nor is recipient of any of sale consideration(29.04.2020)
In facts of the present case are that the Assessee, an individual, did not file any return of income for the relevant assessment year. The Assessing O.....
Tags : Capital gain, Levy, Legality
Loss arose to Assessee on sales of another assets cannot set off from capital gain of previous assets(11.08.2020)
The facts in brief are that, the Assessee is an individual and filed his return of total income declaring income of Rs. 74,69,570. During the year und.....
Tags : Assessment, Capital gain, Set-off
Share Application Money as transferred by the assessee is ‘Capital Asset’ for the purpose of Income Tax Act, 1961(15.12.2020)
In facts of present case, as a part of corporate restructuring undertaken by the assessee group, it was decided that, shares of certain group entities.....
Tags : Assessment, Share money, Capital Assets
Notifications & Circulars
Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Third Amendment) Regulations, 2015(11.08.2015)
The Securities and Exchange Board of India made amendments to the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.
Tags : sebi, capital issue, regulations, 2015
Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Third Amendment) Regulations, 2015(11.08.2015)
The Securities and Exchange Board of India made amendments to the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.
Tags : sebi, capital issue, regulations, 2015
Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Fourth Amendment) Regulations, 2015.(14.08.2015)
SEBI made regulations to amend the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009. The amendm.....
Tags : sebi, amendment, issue of capital, disclosure
Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Fifth Amendment) Regulations, 2015(14.08.2015)
SEBI made regulations to amend the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009. These are .....
Tags : sebi, amendment, issue of capital, disclosure
Taxability of surplus on sale of shares and securities - Instructions in order to reduce litigation(29.02.2016)
The Central Board of Direct Taxes issued instructions in situations when Assessing Officers hold whether surplus generated from sale of listed shares .....
Tags : capital asset, shares, determination, litigation
Basel III Capital Regulations - Revision(01.03.2016)
The Reserve Bank of India notified changes under the Basel III Capital Regulations to address the need to raise more capital than would be required ha.....
Tags : basel, capital regulations, reserves
SEBI DRG II Study Suggests Measures To Enhance Retail Participation(01.03.2016)
The Securities and Exchange Board of India released its Development Research Group - II (DRG- II) Study titled, "The elusive retail investor: How deep.....
Tags : retail investment, capital market, small investors
Guidelines on overseas investments and other issues/clarifications for AIFs/VCFs(01.10.2015)
Securities and Exchange Board of India issued clarifications on the SEBI (Alternative Investment Funds) Regulations, 2012. The clarifications related .....
Tags : Venture, alternative, capital, fund
Steps to enhance competitiveness of capital goods sector(26.07.2017)
A Scheme for enhancement of competitiveness in the Indian Capital Goods Sector is in operation since 2014. The Scheme has infrastructural components f.....
Tags : Competitiveness, Enhancement, Capital goods
Rationalisation of long term capital gains proposed, Revenue gain of about Rs.20,000 crores expected in the first year(01.02.2018)
The Union Finance and Corporate Affairs Minister Shri Arun Jaitley today proposed to tax long term capital gains exceeding Rs.1 lakh at the rate of 10.....
Tags : Rationalisation, Capital gains, Proposal
Simplification of Account Opening Kit(12.07.2016)
The Securities and Exchange Board of India negated the need for physical presence of a stockbroker or depository participant at the opening of a tradi.....
Tags : Trading account, capital market, stockbroker
Companies (Share Capital and Debentures) Third Amendment Rules, 2016(19.07.2016)
The government introduced the Companies (Share Capital and Debentures) Third Amendment Rules 2016, amending the extant 2014 rules.
Among th.....
Tags : company, share capital, rules, amendment, 2016
Transfer of subscribed capital by RBI to the Central Government upon payment of the face value of the subscribed capital(29.04.2019)
In exercise of the powers conferred by sub-section (3) of section 4 of the National Housing Bank Act, 1987 (53 of 1987), the Central Government hereby.....
Tags : Transfer, Subscribed capital
RBI hosts Symposium on 'Developing Vibrant Capital Markets in Emerging Market Economies'(30.05.2019)
The Reserve Bank of India (RBI) on May 29, 2019 held a Symposium on 'Developing Vibrant Capital Markets in Emerging Market Economies' at its Central O.....
Tags : Capital Markets, Market Economies, Symposium
Government sets up Inter-Ministerial Committee to strengthen the Capital Goods Sector(11.11.2020)
The government has set up a 22-member inter-ministerial committee in strengthening the Capital Goods(CG) Sector through interventions that help the CG.....
Tags : Inter-Ministerial Committee, Strengthening of, Capital Goods
Amendment to the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018(27.04.2022)
In exercise of the powers conferred under section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the .....
Tags : Amendment, Issue of Capital, Disclosure Requirements, Regulations
Companies (Share Capital and Debentures) Amendment Rules, 2022(04.05.2022)
In exercise of the powers conferred by sub-section (1) and (3) of section 56 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2.....
Tags : Share Capital, Debentures, Amendment Rules
Guidelines for overseas investment by Alternative Investment Funds/Venture Capital Funds(17.08.2022)
1. In terms of Regulation 12(ba) of erstwhile SEBI (Venture Capital Funds) Regulations 1996 and Regulation 15(1)(a) of SEBI (Alternative Investment Fu.....
Tags : Guidelines, Overseas investment, Venture Capital Funds
Repatriation of Assigned Capital by FRBs/Lloyd's India(26.10.2022)
A. The Authority has been taking various steps towards the ease of doing business so that insurance penetration can be increased. Various working grou.....
Tags : Repatriation, Assigned Capital, Steps
RBI Central Board meets at Mumbai(19.11.2018)
The Reserve Bank of India's (RBI) Central Board met today in Mumbai and discussed the Basel regulatory capital framework, a restructuring scheme for s.....
Tags : Central Board, Meeting, Capital framework
Technical Guidance in respect of Indian Risk Based Capital Framework - Quantitative Impact Study-1(10.08.2023)
1. This circular is issued in exercise of powers conferred by Section 14 (2) (e) of the Insurance Regulatory and Development Authority Act, 1999.
<.....
Tags : Technical Guidance, Capital Framework, Study
National Capital Goods Policy(25.05.2016)
The National Capital Goods Policy with the objective of .....
Tags : national capital goods policy, export, self reliance
Modification in Master Directions Prudential Norms on Capital Adequacy for Local Area Banks (Directions), 2021 and Master Circular - Basel III Capital Regulations dated May 12, 2023(28.02.2024)
1. Please refer to Master Circular - Basel III Capital Regulations dated May 12, 2023, and Master Direction - Prudential Norms on Capital Adequacy for.....
Tags : Capital Adequacy, Guidelines, Modification
Central Government notifies the transfer of capital asset from NTPC Limited to NTPC Green Energy Limited(15.06.2022)
In exercise of the powers conferred by clause (viiaf) of section 47 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies t.....
Tags : Notification, Transfer, Capital asset
Clarifications with respect to Circular no. SEBI/HO/IMD/IMD-I/DOF5/P/CIR/2021/553 dated April 28, 2021(20.09.2021)
1. SEBI, vide Circular no. SEBI/HO/IMD/IMD-I/DOF5/P/CIR/2021/553 dated April 28, 2021, has provided that a part of the compensation of Key Employees o.....
Tags : Capital Market, Clarifications
CCI approves proposed acquisition of C&S Electric Limited by Siemens Limited(20.08.2020)
The Competition Commission of India (CCI) approves proposed acquisition of C&S Electric Limited by Siemens Limited. The proposed combination envisages.....
Tags : Share capital, Acquisition, Approval
International Solar Alliance's Global Solar Facility set to receive a capital contribution of $35 million dollars(31.10.2023)
Amidst a $12.5 trillion global renewable energy investment gap, the GSF steps up to bridge the divide, focusing on stimulating investments in off-grid.....
Tags : ISA, GSF, Capital contribution
Shifting of Capital Goods imported under the EPCG Scheme(29.08.2018)
In exercise of the powers conferred under Paragraph 1.03 of the Foreign Trade Policy (FTP) 2015-20, the Director General of Foreign Trade in public in.....
Tags : Capital Goods, Import, EPCG Scheme
Proceeds from unlisted share sale to default to ‘Capital Gain’ head(05.05.2016)
The Central Board of Direct Taxes directed its offices that income from transfer of unlisted shares irrespective of period of holding would be taxable.....
Tags : Unlisted shares, sale, capital gain, income tax
Notification of date on which share capital of the National Bank for Financing Infrastructure and Development stands allotted to the Central Government(07.02.2022)
In exercise of the powers conferred by sub-section (2) of section 5 of the National Bank for Financing Infrastructure and Development Act, 2021 (17 of.....
Tags : Notification, Date, Share capital
CCI approves acquisition of 100% share capital of L&T Investment Management Limited by HSBC Asset Management (India) Private Limited(10.03.2022)
The Competition Commission of India (CCI) approves acquisition of 100% share capital of L&T Investment Management Limited (L&T AMC/Target) by HSBC Ass.....
Tags : Acquisition, Share capital, Approval
FAQs issued by CBDT on the new capital gains tax regime proposed in the Union Budget 2024-25(24.07.2024)
Q1. What are the major changes brought about in the taxation of capital gains by the Finance (No.2) Bill, 2024?
Ans. The taxation of capita.....
Tags : Capital Gains, FAQs, Tax Regime
Cabinet approves Infusion of capital by Government in IDBI Bank(03.09.2019)
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the Infusion of Rs. 4,557 crore by Government in IDBI Bank. It will he.....
Tags : Infusion, Capital, Approval
CCI approves proposed acquisition of 49% of the total equity share capital of Odisha Power Generation Corporation Limited by Adani Power Limited(30.07.2020)
The Competition Commission of India (CCI) approves proposed acquisition of 49% of the total equity share capital of Odisha Power Generation Corporatio.....
Tags : Acquisition, Share capital, OPGC
News
ITAT Kolkata: Subsidy Collected Under Technical Upgradation Fund Scheme is Capital Receipt(25.06.2019)
Income Tax Appellate Tribunal (ITAT) Kolkata has noted that the subsidy received under the technical upgradation fund (TUF) scheme is the capital rece.....
Tags : ITAT Kolkata, Capital Receipt
ITAT, Delhi Upholds Order Against Gandhi Family on Commercial Immovable Property(06.04.2022)
Income Tax Appellate Tribunal, Delhi has upheld the case against the Gandhi family in relation with commercial immovable properties worth more than Rs.....
Tags : Income Tax Appellate Tribunal, Gandhi family, commercial immovable properties, Rs 800 crore, Young Indian, share capital of Rs 5 lakh, hawala entry, Rs 1 crore
ITAT, Pune: Capital Gain Exemption u/s 54F for Purchase of Office Premises not available(08.04.2022)
Income Tax Appellate Tribunal, Pune has observed that the capital gain exemption under section 54F of the Income Tax Act, 1961 is not available in the.....
Tags : Income Tax Appellate Tribunal, capital gain exemption, Income Tax Act, 1961, office premises
ITAT, Pune: Exemption of Capital Gain u/s 54F not available for Purchase of Office Premises(11.04.2022)
Income Tax Appellate Tribunal, Pune has observed that the exemption of capital gain under section 54F of the Income Tax Act, 1961 is unavailable if th.....
Tags : Income Tax Appellate Tribunal, capital gain, section 54F of the Income Tax Act, 1961, sale consideration
ITAT, Mumbai: Corpus Donations by Un-Registered Trust Considered as Capital Receipt(11.04.2022)
Income Tax Appellate Tribunal, Mumbai has observed that Corpus Donations received by an un-registered trust will be under the purview of Capital Recei.....
Tags : Income Tax Appellate Tribunal, Corpus Donations, Capital Receipt
ITAT, Mumbai: Architect Fee Paid in Connection with Transfer of Development Rights Allowable(11.04.2022)
Income Tax Appellate Tribunal, Mumbai has observed that the architect fee paid by the assessee regarding the transfer of development rights are allowa.....
Tags : Income Tax Appellate Tribunal, architect fee, assesse, section 48 of the Income Tax Act, 1961, capital gain
Architect Fees Paid For Construction Of Building Is Capital Expenditure: ITAT(12.09.2018)
Delhi bench of ITAT has held that the architect fees paid by the assessee for the construction of the building which was not used for the purpose of t.....
Tags : ITAT, Architect Fees, Capital Expenditure
Apex Court: Deposits Collected by Finance Company are Capital Receipts(22.07.2019)
Apex Court has held that the deposits collected by a finance company are capital receipts and not revenue receipts. The Court also held that the prima.....
Tags : Apex Court, Capital Receipts
ITAT, Bangalore: Long Term Capital Loss to be Computed from Date of Possession of Property(22.06.2021)
Income Tax Appellate Tribunal (ITAT), Bangalore has held that long term capital loss is to be computed from the date of possession of Property and not.....
Tags : Income Tax Appellate Tribunal, Long Term Capital Loss
ITAT, Ahmedabad: Undisclosed Sale Consideration of Property Can Only Assessable as Capital Gain(02.05.2022)
Income Tax Appellate Tribunal, Ahmedabad has ruled that the undisclosed sale consideration of the property can be subjected to tax as capital gain und.....
Tags : Income Tax Appellate Tribunal, capital gain, section 48, Income Tax Act, 1961, Undisclosed sale consideration
ITAT, Bangalore: Wife Eligible for Capital Gain release if Money Given for Acquisition of Property(03.05.2022)
Income Tax Appellate Tribunal, Bangalore has held that the wife is eligible for capital gain exemption regarding the money given for the acquisition o.....
Tags : Income Tax Appellate Tribunal, reimbursement, capital gain, acquisition
ITAT: Capital Gain Exemption Can't be Denied For Presence of Husband's Name in Purchase Document(06.05.2022)
Income Tax Appellate Tribunal, Bangalore has held that the capital gain exemption cannot be denied to the wife for the mere presence of the husband's .....
Tags : Income Tax Appellate Tribunal, capital gain, purchase document
CCI Approves Reliance Capital-Goldman Sachs Deal(06.01.2016)
Competition Commission of India (CCI) has approved Reliance Capital Asset Management (RCAM) acquisition of Goldman Sachs' onshore asset management bu.....
Tags : Competition Commission of India, Reliance Capital Asset Management
Hyderabad HC Says Students Can't be Forced to Pay for Capital Construction(07.01.2016)
Hyderabad HC, while taking strong exception to State Government’s decision to collect Rs 10 from each student and teacher under “My Capital, My Amarav.....
Tags : Hyderabad HC,My Capital, My Amaravati, My Brick
Delhi HC Issues Directions for Conducting Elections for Delhi Capital Badminton Association(13.09.2021)
Delhi High Court has issued directions for the purpose of conducting elections for Delhi Capital Badminton Association after observing that the ultima.....
Tags : Delhi High Court, Elections for Delhi Capital Badminton Association
ITAT: Sale of Agricultural Land Does Not Amount to Capital Gain(05.07.2022)
Income Tax Appellate Tribunal (ITAT), Kolkata Bench has held that the sale of agricultural land does not amount to capital gain for the purpose of all.....
Tags : ITAT, Agricultural Land, Capital Gain
ITAT: Development Fee Taken to Corpus Account & Invested in Fixed Asset is Capital Receipt(06.07.2022)
Income Tax Appellate Tribunal (ITAT), Delhi Bench has held that development fees directly taken to corpus account and invested in a fixed asset can be.....
Tags : ITAT, Development Fees, Capital Receipt
ITAT: HUF Eligible for Capital Gain Exemption for Property Purchased in The Joint Name of Members(11.07.2022)
Income Tax Appellate Tribunal (ITAT), Delhi Bench has held that the Hindu Undivided Family (HUF) is eligible to claim capital gain exemption under Sec.....
Tags : ITAT, Hindu Undivided Family, Capital Gain
ITAT: Extinguishment of Right in Property Would Result in Capital Gain(03.06.2019)
ITAT Mumbai has held that the extinguishment of any rights in the property would result in the capital gain under the Income Tax Act, 1961.
Tags : ITAT, Capital Gain
Central Government Notifies Government of National Capital Territory of Delhi (Amendment) Act, 2021(28.04.2021)
Central Government has notified Government of National Capital Territory of Delhi (Amendment) Act, 2021 which has come into force on 27th April, 2021......
Tags : Central Government, Government of National Capital Territory of Delhi (Amendment) Act, 2021
SEBI Notifies Issue of Capital and Disclosure Requirements (Second Amendment) Regulations, 2021(10.05.2021)
Securities and Exchange Board of India (SEBI) has notified the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (.....
Tags : Securities and Exchange Board of India, Issue of Capital and Disclosure Requirements (Second Amendment) Regulations, 2021
ITAT, Mumbai: Amount Spent on Consumable Items can’t be Claimed as Improvement Cost(04.04.2022)
Income Tax Appellate Tribunal, Mumbai has observed that the amount spent on consumable items including sofa, tiles, etc., can’t be claimed as cost .....
Tags : Income Tax Appellate Tribunal, improvement cost, Income Tax Act, 196, capital gain
SC: Const. Courts Can Impose Life Sentence for Fixed Term Without Remission(30.03.2023)
Supreme Court has held that even in case where capital punishment is not imposed, Constitutional Courts can impose fixed term sentence by directing th.....
Tags : Supreme Court, Life Sentence, Remission, Capital Punishment, Constitutional Courts
Bombay HC Orders Tighter Norms on Long-Term Capital Gains from Property Sale(15.09.2016)
Bombay HC has held that an exemption from long-term capital gains where sale proceeds of original asset are invested in a new residential property, wi.....
Tags : Bombay HC, long-term capital gain, Property Sale
ITAT Delhi: Availability of Capital Gain Exemption to More Than One House if HUF Property Sold(18.06.2019)
Income Tax Appellate Tribunal (ITAT) Delhi has noted that the capital gain exemption under Section 54 of the Income Tax Act, 1961 should be given to m.....
Tags : ITAT Delhi, Capital Gain Exemption
ITAT Chennai: Capital Gain Exemption Not Allowable Merely Due to Agreement Without Payment Evidence(20.06.2019)
Income Tax Appellate Tribunal (ITAT), Chennai has observed that the exemption under Section 54F of the Income Tax Act, 1961 (Act) is allowable merely .....
Tags : ITAT Chennai, Capital Gain Exemption
#Economic Survey 2021-2022: Impact of Pandemic on Capital Markets(31.01.2022)
India’s capital markets has done exceptionally well and has allowed record mobilization of risk capital for Indian companies.
Tags : Economic Survey, Capital Markets
#Union Budget 2022-2023:Outlay for Capital Expenditure(01.02.2022)
Union Budget has stepped up the outlay for capital expenditure by 35.4% to 7.50 lakh crores in 2022-23. This outlay will be 2.95 of the GDP. Further,.....
Tags : Union Budget, Capital Expenditure
Supreme Court: Stamp Duty Not to be Paid on Every Increase in Share Capital(09.04.2024)
Supreme Court has held that if stamp duty has already been paid on the increase in share capital of the company and the Articles of Association remain.....
Tags : Supreme Court, Stamp Duty, Share Capital, Articles of Association
Supreme Court Compares 'Triple Talaq' to 'Death Penalty', Says 'Abhorrent But Still Allowed'(15.05.2017)
Supreme Court has compared controversial practice of instant divorce in Islam to capital punishment, saying triple talaq was like death penalty, 'abho.....
Tags : Supreme Court, triple talaq, capital punishment
Delhi HC: Income From Shares/ MFs Trades 'Capital Gain', If Treated as Investment in Past Years(17.05.2017)
Delhi High Court has held that income from trading in shares/mutual funds must be treated as ‘Capital Gain’ if Revenue has been treating the same as i.....
Tags : Delhi High Court, shares/mutual funds, capital gain
J&K HC Seeks Details to Decide Viability of Shifting Capital to Srinagar(13.04.2020)
Jammu and Kashmir High Court have sought a detailed account of financial and administrative intricacies involved in the shifting of the capital from J.....
Tags : Jammu & Kashmir High Court, Viability of Shifting Capital
Delhi HC Issues Notice in Plea Challenging Vires of GNCTD Act, 2021(19.05.2021)
Delhi High Court has issued notice to Union of India and Delhi LG in another plea challenging the vires of Government of National Capital Territory of.....
Tags : Delhi High Court, Government of National Capital Territory of Delhi Act, 2021
ITAT, Chennai: Capital Gains to be Computed as per Share of Parties in Residential Property(10.03.2022)
Income Tax Appellate Tribunal, Chennai has held that capital gains under the Income Tax Act, 1961 is to be computed according to the respective share .....
Tags : Income Tax Appellate Tribunal, Capital Gains
Delhi High Court: Ramping Up of Food Sampling & Testing Required in National Capital(09.05.2024)
Delhi High Court has while dealing with a suo motu case regarding the use of pesticides for growing vegetables causing problems, has observed that foo.....
Tags : Delhi High Court, Food Sampling, National Capital
ITAT Bengaluru: Cost Incurred on Alteration/Renovation on Purchased Unit is Eligible for Capital Gain(26.09.2017)
A Division bench of ITAT Bengaluru has held that the benefit of Section 54F of the Income Tax Act, 1961 can be extended to the cost incurred by the as.....
Tags : ITAT Bengaluru, Exemption, Capital Gain
ITAT: Interest on Enhanced Compensation Recd. under LA Act Not Subject to Capital Gain Tax(28.09.2017)
Income Tax Appellate Tribunal (ITAT) has held that the interest received on enhanced compensation for land compulsorily acquired under the Land Acquis.....
Tags : Income Tax Appellate Tribunal, Capital Gain, Land Acquisition Act
ITAT: Capital Gain Cannot Arise in Respect of a Null And Void Transfer(13.06.2022)
Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that a null and void transfer of land does not form capital gain and additional short t.....
Tags : ITAT, Void Transfer, Capital Gain
ITAT: Depreciation allowable on Toll Collection Rights(15.06.2022)
Income Tax Appellate Tribunal (ITAT), Pune Bench has held that the depreciation under Section 32 of the Income Tax Act, 1961 is allowable on toll coll.....
Tags : ITAT, Toll Collection, Capital Asset
ITAT: Short Term Capital cannot be carried forward as it has not been claimed through a Return filed(21.06.2022)
Income Tax Appellate Tribunal (ITAT), Mumbai Bench has held that short term capital cannot be carried forward as it has not been claimed through a ret.....
Tags : ITAT, Short Term Capital, Income-Tax Act
ITAT: Entertainment Subsidy Falls Under Capital Receipt(22.06.2022)
Income Tax Appellate Tribunal (ITAT), Pune Bench has held that Entertainment subsidy falls under capital receipt.
Tags : ITAT, Entertainment Subsidy, Capital Receipt
Delhi HC: Hawkers Cannot Block Roads & Pavements in National Capital(11.11.2016)
Delhi HC has said that roads and pavements in National Capital cannot be allowed to be blocked by hawkers, but genuine street vendors would be protect.....
Tags : Delhi HC, National Capital, hawkers, pavements
SC Asks Government: Are You Waiting for People to Die in a Polluted National Capital?(11.11.2016)
Supreme Court has asked Government and Central Pollution Control Board (CPCB) whether they intend to just sit back and watch people gasp for breath an.....
Tags : Supreme Court, National Capital, Air pollution
Delhi HC: Air Pollution is Capital Punishment for Delhiites(14.11.2016)
Delhi High Court, while calling air pollution “capital punishment killing Delhiites for no fault”, has said that 20 million people were losing 60 mill.....
Tags : Delhi High Court, capital punishment, Air Pollution, Delhiites
Delhi HC Enquires Government in Plea Against Illegal Laboratories in National Capital(02.08.2021)
Delhi High Court has asked the Delhi Government if it has complied with the 2017 directions of the Supreme Court, setting out the desired qualificatio.....
Tags : Delhi High Court, Illegal Laboratories in National Capital
ITAT: Amount Invested in Capital Gain Scheme not Subjected to Tax in The Year of Investment(23.05.2022)
Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the amount once invested in the capital gain scheme cannot be brought to tax in the ye.....
Tags : ITAT, Capital Gain, Investment
ITAT: Non-capitalisation Interest of Loans on P&M and CWP Cannot Be Capitalised and Disallowed(23.05.2022)
Income Tax Appellate Tribunal (ITAT), Amritsar Bench has held that non-capitalisation interest of loan on Plant & Machinery (P&M) and Capital Work in .....
Tags : ITAT, Interest of Loans, Capital Work in Progress
Ker. HC: Gain from Property Kept for Investment Purpose to be Taxed Under Capital Gains(24.07.2024)
Kerala High Court has held that any gain that is obtained from a property kept for the purpose of investment shall be taxed under the category of capi.....
Tags : Kerala High Court, Capital Gains, Investment
Capital Gain of Minor can be Clubbed with Income of Mother: ITAT(17.12.2018)
Income Tax Appellate Tribunal (ITAT), Chennai has held that capital gain received by minor daughters can be clubbed in the hands of the Mother under p.....
Tags : ITAT, Capital Gain of Minor
ITAT, Chennai: Capital Gain Exemption Cannot be Denied to Assessee Merely on Basis of Facts(29.09.2021)
Income Tax Appellate Tribunal (ITAT), Chennai has held that the capital gain exemption under section 54F of the Income Tax Act, 1961 cannot be denied .....
Tags : Income Tax Appellate Tribunal, Capital Gain Exemption
ITAT: Capital Gain Can’t be Taxed When Sale Consideration is Already Taxed from PoA Holder(08.08.2022)
Income Tax Appellate Tribunal (ITAT), Pune Bench has held that the capital gain in respect of consideration received from sale of property cannot be t.....
Tags : ITAT, Capital Gain, PoA
ITAT: Foreign Travel Expenses to Secure Capital Investment Can’t be Allowed as Business Expenditure(17.08.2022)
Income Tax Appellate Tribunal (ITAT), Bangalore Bench has held that the foreign travel expenses relating to secure the capital investment in the busin.....
Tags : ITAT, Capital Investment, Foreign Travel Expense
Delhi HC: Value Declared in Wealth Tax Return Cannot Be Taken as Cost of Acquisition(26.10.2017)
Delhi High Court has upheld the order of ITAT that the value of land as declared and assessed under Section 7(4) of Wealth Tax Act could not be adopte.....
Tags : Delhi High Court, Capital Gain
ITAT: Capital Gain Exemption Cannot be Claimed for Agricultural Land Purchased in Wife’s Name(15.07.2022)
Income Tax Appellate Tribunal (ITAT), Delhi Bench has held that the capital gain exemption under Section 54B of the Income Tax Act, 1961 cannot be cla.....
Tags : ITAT, Capital Gain Exemption, Agricultural Land
ITAT: Capital Gain Deduction Allowable to Separate Independent Residential Units on Single Land(18.07.2022)
Income Tax Appellate Tribunal (ITAT), Chennai Bench has held that the capital gain exemption under section 54F of the Income Tax Act, 1961 is allowabl.....
Tags : ITAT, Capital Gain Exemption, Residential Units
ITAT: Unregistered Document Has No Evidentiary Value(18.07.2022)
Income Tax Appellate Tribunal (ITAT), Surat Bench has upheld the denial of capital gain exemption under Section 54 of Income-Tax Act, 1961, by holding.....
Tags : ITAT, Unregistered Document, Capital Gain Exemption
CBDT: Bonds Issued by ‘Power Finance Corporation Ltd’ Are Eligible for Capital Gain Exemption(12.06.2017)
Central Board of Direct Taxes (CBDT) has notified that Capital Gain exemption under section 54EC of Income Tax Act is applicable to bonds issued by Po.....
Tags : Central Board of Direct Taxes, Capital Gain Exemption
Supreme Court Signals Return of Odd-Even Scheme if Condition Necessitates(05.12.2016)
Supreme Court has said that odd-even scheme could be reintroduced in National Capital in a bid to put a check on pollution level in Delhi.
Tags : Supreme Court, odd-even , National Capital
CCI Nods for Investment by FIL Capital(22.01.2016)
Competition Commission of India (CCI) has granted approval to proposed investment by FIL Capital Investments (Mauritius) II Limited in Cipla Health Li.....
Tags : Competition Commission of India, FIL Capital Investments, Cipla Health Limited
President Gives Assent to Law to Protect Unauthorised Colonies, Slums in Delhi(02.01.2018)
The President of India has given assent to National Capital Territory of Delhi Laws (Special Provisions) Second (Amendment) Act which intends to prote.....
Tags : National Capital Territory of Delhi Laws (Special Provisions) Second (Amendment) Act
Welfare Stamp on Vakalatnama Increased to Rs 25 in National Capital(25.09.2019)
Notification has been issued by the Delhi Government pursuant to which the value of a welfare stamp on a Vakalatnama has been increased to Rs 25 in De.....
Tags : Welfare Stamp, National Capital
ITAT: Capital Gain Exemption Cannot be Denied on Ground of Joint Ownership in 2 Residential Flats(28.07.2022)
Income Tax Appellate Tribunal (ITAT), Mumbai has held that capital gain exemption under Section 54F of Income-Tax Act, 1961 cannot be denied on ground.....
Tags : ITAT, Capital Gain, Exemption
ITAT, Mumbai: No Disallowance of Interest on Borrowed Capital for Business Purposes(04.12.2020)
Income Tax Appellate Tribunal (ITAT), Mumbai has held that interest paid on borrowed funds used for business purposes cannot be disallowed.
Tags : Income Tax Appellate Tribunal, Disallowance of Interest on Borrowed Capital
SC: Sale of Entire Running Business With Assets, Liabilities Is Not 'Short-Term Capital Assets'(19.04.2017)
Supreme Court has held that Section 50 (2) of Income Tax Act will not apply to a case where entire running business with assets and liabilities is sol.....
Tags : Supreme Court, Short-Term Capital Assets
ITAT, Bangalore: Capital Gain Deduction Allowable for House Purchased Outside India(05.02.2020)
Income Tax Appellate Tribunal (ITAT), Bangalore has allowed a claim of deduction under Section 54/54F of the Income Tax Act, 1961 on a house purchased.....
Tags : Income Tax Appellate Tribunal, Capital Gain Deduction on House Purchased Outside India
Delhi HC Directs Reconsideration on Revocation of Registration of Shubh Lakshmi Capital(04.02.2021)
Delhi High Court has directed the Appellate Authority of the Reserve Bank of India to reconsider the revocation of registration certificate of Shubh L.....
Tags : Delhi High Court, Shubh Laxmi Capital
Rajya Sabha Passes National Capital Territory of Delhi Laws Second (Amendment) Bill, 2020(10.02.2021)
Rajya Sabha has passed the National Capital Territory of Delhi Laws (Special Provisions) Second (Amendment) Bill, 2020 by voice vote. The Bill seeks t.....
Tags : Rajya Sabha, National Capital Territory of Delhi Laws (Special Provisions) Second (Amendment) Bill, 2020
Delhi HC Sets Aside Ban on Manufacture & Sale of Chewing Tobacco Products in National Capital(29.09.2022)
Delhi High Court has quashed notifications prohibiting manufacture, storage, distribution or sale of Chewing Tobacco Products in national capital, and.....
Tags : Delhi High Court, Chewing Tobacco Products, National Capital
Profit Earned by Housewife from Share Transaction is Business Income, Not Capital Gain: ITAT(27.03.2018)
Delhi Bench of ITAT,has ruled that the profit earned by a Housewife on the purchase and sale of shares would amount to business income and net short-t.....
Tags : ITAT, Capital Gain
COMPANY - Conversion of Unaccounted Money Through Cloak of Share Capital/Premium Must be Scrutinised: SC(07.03.2019)
Supreme Court has observed that assessee is under a legal obligation to prove receipt of share capital/premium to satisfaction of Assessing Officer, f.....
Tags : Supreme Court, Share Capital/Premium, Conversion of Unaccounted Money
Andhra Pradesh High Court Orders Status Quo on Shifting State Capital(24.01.2020)
Andhra Pradesh High Court has ordered status quo on shifting the state capital from Amravati. The Court has directed the Government not to relocate an.....
Tags : Andhra Pradesh High Court, Status Quo, Shifting Capital
DIRECT TAXATION - ITAT Shields Tax Relief on New House(15.03.2019)
Income-Tax Appellate Tribunal (ITAT), Mumbai bench has held that investment-linked capital gains tax exemption, available on purchase of a new house, .....
Tags : ITAT, Second House, Capital Gain, Tax Relief
ITAT: Capital Gains Arising On Sale Of Rural Agricultural Land Outside The Ambit Of Income Tax(11.01.2022)
Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench has observed that the capital gains arising on sale of rural agricultural land outside the purvi.....
Tags : ITAT, Capital Gain, Income Tax
Govt. Bans Zero Duty Import of Capital Goods for Power Plants under EPCG Scheme(02.02.2016)
Government has banned duty- free import of capital goods for power generation and transmission projects under Export Promotion Capital Goods (EPCG) sc.....
Tags : Government, Export Promotion Capital Goods scheme
SICC Sets Aside SIAC Award in Case of Gokul Patnaik v Nine Rivers Capital Ltd(16.12.2020)
Singapore International Commercial Court (SICC) has dismissed an application to introduce new evidence on foreign law and to set aside Singapore Inter.....
Tags : Singapore International Commercial Court, Gokul Patnaik v Nine Rivers Capital Ltd
IT Deduction Available on Purchase of Two Houses Even If Investment is Not of Capital Gain: ITAT(12.04.2019)
Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that deduction under section 54 Income Tax Act is available on purchase of two residential.....
Tags : ITAT, Residential Houses, Capital Gain
Competition Commission of India Approves BCP’s 40% Stake Buy in Indostar Capital(04.03.2020)
Competition Commission of India has approved the acquisition of up to 40% stake in Indo Star Capital Finance by BCP V Multiple Holdings on a fully dil.....
Tags : Competition Commission of India, Indostar Capital
Govt. Fixes Debt to Capital, Free Reserve Ratio for Govt. Companies(25.03.2016)
Ministry of Corporate Affairs has notified the debt to capital and free reserves ratio for government companies that are into housing finance.
Tags : Ministry of Corporate Affairs, Debt to Capital, Free Reserve Ratio
Madras High Court Sets Aside Capital Punishment of Rape & Murder Accused(29.11.2021)
Madras High Court has reiterated the settled law on circumstantial evidence and the nature of inferences drawn therefrom for convicting an accused in .....
Tags : Madras High Court, Capital Punishment of Rape & Murder Accused
Supreme Court: Capital Punishment Breaches Reformative Theory of Punishment(10.04.2017)
Supreme Court, while commuting capital punishment awarded to a murder convict to life term, has noted that death penalty “somehow breaches reformative.....
Tags : Supreme Court, capital punishment
ITAT, Chennai: Wife Eligible for Capital Gain Deduction Towards House Purchased in Husband’s Name(27.02.2020)
Income Tax Appellate Tribunal (ITAT), Chennai has held that the wife is eligible for deduction under Section 54 of the Income Tax Act, 1961 for the in.....
Tags : Income Tax Appellate Tribunal, Wife Eligible for Capital Gain Deduction
Bombay High Court Orders Sale of Gear from Talwalkars to Clear Dues Towards Tata Capital(27.12.2019)
Bombay High Court has ordered the sale of equipments from 50 gyms of Talwalkars Healthclubs to clear dues worth Rs. 36 crores towards Tata Capital. Th.....
Tags : Bombay High Court, Tata Capital
Andhra Pradesh Government Decides to Withdraw Three Capitals Law(22.11.2021)
Andhra Pradesh Government has decided to withdraw three capitals proposal and has decided to repeal the Laws paving way for three capitals of Andhra P.....
Tags : Andhra Pradesh Government, Three Capitals Law
ITAT Chandigarh: Interest from Bank Deposits Prior to Commencement of Business is Capital Receipt(20.06.2017)
ITAT Chandigarh has held that interest from Bank deposits prior to the period of commencement of business is Capital receipt.
Tags : ITAT Chandigarh, Capital Receipt
APHC: No ‘Capital Gain’ When Dutch Co Sells Shares of Immovable Property Company to Singapore Co(27.07.2017)
Andhra Pradesh High Court has held that gains arising from a Dutch company’s sale of shares of an Indian immovable property company to a Singapore com.....
Tags : Capital Gain
EDUCATION - Delhi HC Upholds Circular Asking Schools to Follow Textbooks Prescribed by SCERT/NCERT/CBSE(28.03.2019)
Delhi High Court has dismissed a challenge against the circular issued by Directorate of Education, Government of National Capital Territory of Delhi,.....
Tags : Delhi High Court, Directorate of Education, Government of National Capital Territory of Delhi, SCERT, NCERT, CBSE
Mauritius, Singapore Investments Fully Taxable for Capital Gains(01.04.2019)
Capital Gains on investments made in India through companies in Mauritius and Singapore will become fully taxable from 1st April because of revisions .....
Tags : Capital Gains, Mauritius, Singapore Investments, Double-Taxation Avoidance Agreements (DTAAs)
ITAT, Kolkata Allows Long-Term Capital Loss from Sale of Government Securities(23.03.2021)
Income Tax Appellate Tribunal (ITAT), Kolkata has allowed the Long-Term Capital Loss arising from the sale of Government Securities after applying the.....
Tags : Income Tax Appellate Tribunal, Long-Term Capital Loss from Sale of Government Securities
Parliament Passes GNCTD Amendment Bill to Enhance Powers of Delhi Lieutenant Governor(25.03.2021)
Rajya Sabha has passed the Government of National Capital Territory of Delhi (Amendment) Bill, 2021. The Bill seeks to enhance the powers of Lieutenan.....
Tags : Rajya Sabha, Government of National Capital Territory of Delhi (Amendment) Bill, 2021
Del. HC: IT Addition Eligible for Deduction u/s 80-IC of IT Act if Made Towards Unsub. Share Capital(04.04.2024)
Delhi High Court has held that Income Tax Addition are eligible for deduction under Section 80-IC of the Income Tax Act, 1961 if they are made towards.....
Tags : Delhi High Court, Section 80-IC of IT Act, Income Tax Addition, Unsubstantiated Share Capital
Bombay HC Admits Plea filed by Tata Capital Financial Services for Recovering Dues(17.08.2016)
Bombay HC has admitted winding-up petition filed by Tata Capital Financial Services to recover dues worth about Rs 29 crore from 3i Infotech.
Tags : Bombay HC , Tata Capital Financial Services
ITAT Delhi: Corpus Fund Received for Capital Expenditure Not Taxable If Trust Not Registered(23.05.2017)
Delhi ITAT has held that corpus fund which is meant for specific purpose to meet out capital expenditure could not be part of annual receipts of educa.....
Tags : Delhi ITAT, Capital Expenditure
Acquisition of Tenancy Right Not Eligible for Capital Gain Exemption: ITAT(01.05.2019)
Income Tax Appellate Tribunal (ITAT), Mumbai has held that the acquisition of the tenancy rights would not amount to purchase or construction of a new.....
Tags : ITAT, Acquisition of Tenancy Right, Capital Gain Exemption
Del. HC: Administration has Turned Blind Eye Towards Functioning of Dairies in National Capital(09.05.2024)
Delhi High Court while dealing with a plea alleging violation of various laws by dairy colonies in Delhi, has observed that the administration has com.....
Tags : Delhi High Court, National Capital, Dairies
Sebi : Venture Capital Funds Can Now Invest 25% in India-Linked Firms(05.10.2015)
Sebi in order to boost entrepreneurship and prevent Indian firms shifting their businesses to foreign countries, has allowed Alternative Investment Fu.....
Tags : Sebi,Venture Capital Funds
ITAT, Mumbai: Corpus Donations Received by Trust Not Taxable, Even If Trust Is unregistered(18.04.2022)
Income Tax Appellate Tribunal, Mumbai has held that the corpus donations received by a Trust for a specific purpose are not taxable, even if the Trust.....
Tags : Income Tax Appellate Tribunal, Section 12 A of the Income Tax Act, 1961, capital receipt
ITAT, Mumbai: Corpus Donations Received by Trust Not Taxable, Even If Trust Is unregistered(18.04.2022)
Income Tax Appellate Tribunal, Mumbai has held that the corpus donations received by a Trust for a specific purpose are not taxable, even if the Trust.....
Tags : Income Tax Appellate Tribunal, Section 12 A of the Income Tax Act, 1961, capital receipt
SC: Anti Encroachment in Jahangirpuri, Status Quo Till Further Orders(21.04.2022)
Supreme Court has extended the status quo until further orders on the subject of demolition of buildings in violence-hit Jahangirpuri area of the nati.....
Tags : Supreme Court, Jahangirpuri, national capital, demolition
Delhi HC Seeks Death Row Convict’s Response(26.10.2016)
Delhi High Court has sought reply of two death row convicts in 2009 Jigisha Ghosh murder case, whose case file has been sent by Trial Court in New Del.....
Tags : Delhi High Court , Jigisha Ghosh murder, capital punishment
SC Refuses to Entertain Plea for Vacation of Stay on Formation of 3 Capital Cities(26.08.2020)
Supreme Court has refused to entertain the plea for vacation of stay passed by the Andhra Pradesh High Court on the formation of three capital cities .....
Tags : Supreme Court, Formation of 3 Capital Cities
ITAT, Mumbai: Architect Fee Paid in Connection with Transfer of Development Rights Allowable(11.04.2022)
Income Tax Appellate Tribunal, Mumbai has observed that the architect fee paid by the assessee regarding the transfer of development rights are allowa.....
Tags : Income Tax Appellate Tribunal, architect fee, assesse, section 48 of the Income Tax Act, 1961, capital gain
Del HC: Subsidy Received as Incentive to Establish Industrial Unit is Capital Receipt(10.07.2023)
Delhi High Court has held that if the subsidy received by assessee is an incentive given to establish an industrial unit in a backward area and, thus,.....
Tags : Delhi High Court, Subsidy, Capital Receipt
ITAT: Multiple Flats on Different Floors Cannot be Treated as Single Residential House(29.06.2022)
Income Tax Appellate Tribunal (ITAT), Cuttack Bench has held that the multiple flats in different floors of the same building cannot be treated as a s.....
Tags : ITAT, Capital Gain Exemption, Income-Tax Act