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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.
Bombay High Court rules that a granddaughter cannot reopen a settled family property sale, holding that family settlements and transactions are final and binding.
ITAT Mumbai rules cash received from a ₹94 lakh property sale cannot be treated as unexplained income under Section 69A when supported by a registered sale deed and matching bank …
Selling inherited property in India attracts capital gains tax, not inheritance tax. Supreme Court clarifies tax liability, exemptions under Sections 54 & 54EC, and rules for shar…
Bombay High Court rules that reinvesting proceeds from sale of an inherited property into multiple homes qualifies for Section 54 capital gains exemption.