Section 50C

Income Tax

Woman Sold Flat, Sought Section 54 Tax Exemption During Appeal; ITAT Rejects Claim Not Made in Return or Assessment Proceedings | Biz Flow Kit
Byadmin June 12, 2026

Woman Sold Flat, Sought Section 54 Tax Exemption During Appeal; ITAT Rejects Claim Not Made in Return or Assessment Proceedings The Income Tax Appellate Tribunal (ITAT) has upheld the rejection of a taxpayer’s claim for deduction under Section 54 of the Income Tax Act, 1961, holding that the benefit cannot be entertained for the first…

Read More Woman Sold Flat, Sought Section 54 Tax Exemption During Appeal; ITAT Rejects Claim Not Made in Return or Assessment Proceedings | Biz Flow Kit
Income Tax

ITAT Restores Matter After AO Failed to Verify Property Transaction Nature | Biz Flow Kit
Byadmin May 16, 2026

ITAT Restores Matter After AO Failed to Verify Property Transaction Nature The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) remanded a matter involving long-term capital gains (LTCG) addition after finding inconsistencies in the nature of immovable property transactions and lack of proper factual verification by the Assessing Officer (AO). A Bench comprising Judicial…

Read More ITAT Restores Matter After AO Failed to Verify Property Transaction Nature | Biz Flow Kit