Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights December 2020 Year 2020 This

Computation of Long Term Capital Gains - There is nothing on ...

Case Laws     Income Tax

December 5, 2020

Computation of Long Term Capital Gains - There is nothing on record to substantiate the allegation of intention to avoid tax in the guise of transfer of shares. Ld.CIT(A) on one hand holds that there was no transfer of Capital Asset, whereas on the other hand, refers to DVO report to allege tax avoidance by assessee. Ld.CIT(A) once rejected application of sec.50C cannot rely on DVO report to hold that assessee adopted a colourable device to avoid tax. - AT

View Source

 


 

You may also like:

  1. LTCG or STCG - Sale of ground floor of residential unit - whether it give rise to long term capital gains or short term capital gains - Computation from period of...

  2. Regarding long-term capital gain determination, indexed cost of acquisition claimed by assessee at Rs. 45 lakhs for property valued over Rs. 45 lakhs, evidenced by...

  3. Revision u/s 263 by CIT - Wrong claim of carry forward of long term capital loss - the long term capital gain, which is exempted under section 10(38) of the Act, would...

  4. Computation of Long-term Capital Gains - non considering the INDEX COST of assets purchased u/s. 48 - The benefit of indexation while computing long term capital gains...

  5. Computation of capital gain - slump sale - Long Term Capital Gains - aggregate value of assets for purpose of computing net worth of undertaking in terms of provisions...

  6. Setting off the long term capital loss arising on sale of shares not subject to STT against long term capital gain arising from sale of Shares subjected to STT exempt...

  7. Long-term capital gain - cost of acquisition - capital gain worked out by the DVO - They have calculated the long-term capital gain simply by taking into consideration...

  8. Capital Gain - Receipt of consolidated amount - where a gain from one of capital assets was a short-term capital gain while from other it was a long term capital gain,...

  9. Computation of long term capital gains - HUF has ever shown the capital asset in question in its books or admitted impugned long term capital gains in its case. -...

  10. Long term capital gain - sub-tenancy right - the assessee had a sub-tenancy right in the property and upon surrender thereof, the assessee received a sum which was...

  11. Rate of tax on sale of depreciable assets - STCG vs LTCG - as per Section 112 of the Act, the tax on long term capital gains on transfer of a long term capital asset is...

  12. Capital gains taxation streamlined with short-term gains on certain financial assets attracting 20% tax and long-term gains on all assets attracting 12.5% tax. Exemption...

  13. Capital gain from sale of commercial property - intra-head adjustment of loss - Benefit of carry forward of long term capital loss on the sale of shares for the current...

  14. Validity of re-opening of assessment u/s 147 - Procedure of recording satisfaction for reopening assessment - notice beyond period of four years - The ITAT observed...

  15. There was a genuine transaction of purchase and sale of shares on which assessee has earned Long Term Capital Gain, and therefore, such Long Term Capital Gain cannot be...

 

Quick Updates:Latest Updates