Curated legal news, case breakdowns, and workflow tips for fast-moving practitioners.
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Income Tax rules allow fair market value as on April 1, 2001 for ancestral property acquired before that date, reducing capital gains tax liability.
ITAT Ahmedabad rules that no deemed rent can be added on vacant flats if landlords made genuine efforts to rent them under Section 23(1)(c).
ITAT rules that landlords need not issue separate rent receipts when co-tenants pay rent jointly, holding bank records sufficient proof and granting tax relief.
Own more than one house? Know how tax benefits differ for self-occupied and let-out homes, interest limits, rental tax and old vs new regime rules.
ITAT Chandigarh rules that Section 269SS does not apply to one-time cash payments made at property sale registration. Penalty under Section 271D deleted, giving relief to taxpayer…