Tag: transfer 2(47)
Revenue not to take benefit of mistake committed by assessee. Gift wrongly executed through sale deed can not be taxed as capital gain In a recent judgment, the Hon’ble ITAT has held that revenue should not take the benefit of the mistake committed by the assessee. Gift to …
Capital gain tax in JDA is in the year of receipt of constructed area and not in year of entering into joint development agreement – ITAT In a recent judgment, ITAT has confirmed that capital gain tax in the case of a joint development agreement is in the …
Conditions to be fulfilled by original fund u/s 47(viiad) if resultant fund is Category III Alternative Investment Fund MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 80/2022 New Delhi, the 8th July, 2022 G.S.R.524(E).—In exercise of the powers conferred by sub-clause (iv) of clause (a) …
No TDS u/s 194IA on advance security deposit under JDA as there was no transfer as conditions of Section 2(47)(v) of the Act was not complied ABCAUS Case Law CitationABCAUS 3468 (2021) (03) ITAT Important case law relied referred:Keshub Mahindra v. CGT 70 ITR 1CGT v Smt C …
Transfer u/s 2(47)(v) is complete when possession of immovable property taken over in part performance of contract ABCAUS Case Law Citation: ABCAUS 3051 (2019) (07) ITAT In The instant case, the Revenue had filed the appeal against the order passed by the CIT(A) in directing to treat the …
Transfer of the property by irrevocable power of attorney not valid mode of transfer u/s 2(47). ITAT follows Supreme Court judgment against section 2(47)(vi) ABCAUS Case Law Citation: ABCAUS 2969 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties: Suraj Lamp Pvt Ltd v/s State of …
Supreme Court explains the concept of income tax on Joint development agreement and applicability u/s 2(47) and section 45 and 48 where the JDA was not registered and was abandoned In an important judgment, Supreme Court has explained the concept of income tax on Joint development agreement and …
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 …
