Taxmann’s Taxation of Capital Gains By CA S. Krishnan 15th Edition April 2026

The Present Publication is the 15^th Edition | 2026, amended by the Finance Act 2026. This book is authored by CA. S. Krishnan with the following noteworthy features:

• [Dual-Act Cross-Reference Architecture]  A master cross-reference table in the preliminary pages maps the entire capital gains framework across both enactments, and every chapter opens with its own section-level cross-reference table. This is critical in the 2026 assessment season, where the 1961 Act governs tax years ending 31^st March 2026 and the 2025 Act governs tax years from 1^st April 2026—practitioners can navigate either framework without risk of applying the wrong Act’s analysis. While the 2025 Act largely reformats rather than rewrites the capital gains provisions, specific deletions are identified: Section 54GB has no 2025 Act counterpart; the sick company land transfer exemption and stock exchange demutualisation provision from Section 47 have been removed; and the tabular restructuring of Section 70 introduces its own interpretational questions—all addressed explicitly
• [Statutory Currency Through Finance Act 2026] All provisions, tax rates, exemption thresholds, investment limits, and computation mechanics reflect the law as amended by the Finance Act 2026. Practitioners working on current assessments, advance rulings, or transactional work have a single fully updated reference
• [Judicial Coverage Up to March 2026] Decisions are incorporated up to March 2026 and analysed in context, not merely cited. Coverage extends to unreported ITAT orders (identified by ITA number and order date), Supreme Court SLP dismissals, and Third Member decisions. The para-level citation structure gives precise locatability to every decision discussed. The author compares co-ordinate Bench reasoning, flags conflicts, and in several instances expresses disagreement with particular rulings
• [Worked Illustrations] Computation-intensive provisions carry practical numerical illustrations, not simplified textbook constructs. Section 50 mechanics, Section 50C stamp duty value override, the Section 54EC Rs. 50 lakh ceiling across consecutive financial years, and the Section 112A loss interaction are among the areas where worked examples are provided
• [Author’s Independent Analytical Views] CA. Krishnan explicitly offers his own views on contested interpretational questions, the soundness of a court’s reasoning, conflicts between Bench decisions, or the appropriate practitioner position following a legislative amendment. These views are clearly attributed and grounded in detailed reasoning, making the book useful as a second opinion in assessment and appellate proceedings
• [Dedicated NRI Chapter] Chapter 16B covers property disposal procedures, TDS obligations, RNOR transitional status, and guidance for returning Indians, including a candid account of a senior Income-tax Department official’s observations on the pattern of unintentional non-compliance by NRIs.
• [Historical CBDT Circular (April 1955)] Chapter 1 opens with the CBDT Circular of 11-4-1955 on the responsibilities of income-tax authorities in guiding assessees, an editorial choice that frames the practitioner’s role as a bridge between taxpayer and department, a theme that runs through the NRI chapter as well
• [Appendices on COVID-19 Compliance Relaxations] The three appendices preserve the legislative record of deadline extensions under the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act 2020, including the final extension to 31st March 2023 for exemption claims under Sections 54 to 54GB, relevant for assessments and appeals where investment timelines relied on these extensions