Tag: Capital Gain
Husband Wife treated single unit for capital gains deduction u/s 54 54F. Compensation paid to husband to vacate house owned by wife not allowable – ITAT ABCAUS Case Law Citation: 996 (2016) (08) ITAT Assessment Year: 2011-12 Date/Month of Judgment/Order: August 2016 Brief Facts of the Case: The assessee …
No difference between gift and settlement for capital gains purposes. In a recent judgment, ITAT, Chennai has held that there is no difference between a gift and settlement and for the purpose of computing capital gains, the holding period of the capital asset (Trade Mark) transferred, the holding period …
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes
ITAT Mumbai, in a recent case has stated that demolition/destruction of house not necessarily results in transfer u/s 2(47) by extinguishment of rights in a capital assets for capital gain purpose. Case Law Details: I.T.A. No. 6169/Mum/2013 Assessment Year : 2007-08 Dilip Manhar Parekh vs. Dy. Commissioner of …
Assessee not liable to Long Term Capital Gain for being registered owner where the land was leased out to a builder company for construction of flats and payments for flat sales were received directly by the builder. Case Details: INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI I.T.A. No 4518/Mum/2012 Assessment …
CBDT Guidelines-Gains on sale of shares and securities whether Capital Gains or Business Income Circular No.6/2016 Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes North Block, New Delhi, the 29th of February, 2016 Sub: Issue of taxability of surplus on sale of shares and securities …
