Home Highlights April 2013 Year 2013 This

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1. Deduction u/s 54 - Proportionate deduction - Denial of deduction as capital gains arising out of sale of original asset was not deposited in the Capital Gain Deposit...

2. Capital gains computation - lower revenue authorities have erred in computing the capital gain in the instant case on the basis of deemed cost of consideration u/s 50C...

3. LTCG - Period of holding of asset - deduction u/s 54 - So far as the residential building/house constructed on the said land is concerned, it was constructed in ay:...

4. Short Term Capital Loss (on which STT was paid) set off against the Short Term Capital Gain (on which STT is not paid) - Section 70(2) of the Act does not make any...

5. Deduction claimed u/s 54 - There being no pre–condition u/s 54(1) providing for investment of the long term capital gain in purchase of new house for claiming deduction...

6. Capital gain for sale of rosewood and silver oak trees - computation of cost of acquisition and indexation - capital gain has to be assessed on the basis of Section 48 - HC

7. Key issues: 1) The treatment of long-term capital gain on inherited/gifted jewelry as short-term capital gain, where the assessee's claim of the jewelry being 30-40...

8. Computation of Capital Gains - Exclusion of the portion of the sale consideration that was never received - The High court found that the real income (capital gains)...

9. The assessee claimed weighted deduction u/s 35(1)(ii) for donation made to M/s Shri Arvindo Institute of Applied Scientific Research Trust at the end of the year. The...

10. Income from other source OR Capital gain - Correct head of income - relinquishing the right acquired under the Agreement by the Assessee - income from relinquishing...

11. Computation of capital gains - market price of the shares cannot be taken for the purpose of computation of capital gain as per sec. 48 when there is no under statement...

12. Deduction claimed u/s. 54 - delay in depositing unutilized amount in capital gains account deposit scheme - Assessee has explained reasons for depositing unutilized...

13. Portfolio Management Services (PMS) fees paid is eligible for deduction while computing Short Term Capital Gain

14. Capital gain computation - lease rental expenses are related to the transfer of slump sale business while computing the capital gain u/s 48(1) or not? - The Tribunal...

15. Entitled to claim long term capital gain on transfer of rights in the Flats - Deduction u/s 54 against capital gains arising out of sale of flats - the right over the...