Property

A property buyer who paid ₹6.5 crore for a property valued at ₹8.85 crore for stamp duty purposes won relief from a ₹2.35 crore tax addition. ITAT Mumbai ruled that a higher stamp-duty value alone cannot prove undisclosed investment under Section 69B without evidence of extra payment.

Buying a co-owner’s share in a jointly owned property can make capital gains tax calculations more complex when you sell the whole asset. The two shares may have different acquisition dates and costs, affecting how the gains are taxed.

ITAT Chennai ruled that the tax benefit could not be denied merely because the earlier agreement to sell was unregistered, as the consideration was fixed earlier and payments were made through RTGS.

The Telangana High Court has ruled that taxpayers cannot lose Section 54F capital gains exemption solely because a builder delayed completing or registering a home. The judgment says delays beyond the taxpayer's control should not defeat the tax benefit if the investment has already been made.

The Karnataka High Court ruling clarifies that property received by a father from his own father does not automatically become ancestral. Children cannot claim a birthright in such assets if they remain the father's self-acquired property.

If your father inherited property from his father, can he sell or bequeath it without your consent? Here's what Hindu law says about ancestral property and coparcenary rights.

Many property sellers may end up paying more tax under the 20% tax regime with indexation than under the flat 12.5% LTCG tax. The benefit of indexation depends on how much the property's value has appreciated over time, making it important to compare both tax calculations before filing.

Sold a house and reinvested the gains but missed the construction deadline due to Covid? The Chennai ITAT says that alone is not enough to deny Section 54 tax exemption. The Tribunal held that pandemic-related delays cannot be treated as negligence and allowed the capital gains exemption claim.