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 July 2013 Year 2013 This

Benefit u/s 32(2)(iii) - Carried forward unabsorbed depreciation ...


Section 32(2)(iii): Unabsorbed Depreciation Cannot Offset Short-Term Capital Gains from Sale of Depreciable Assets.

July 10, 2013

Case Laws     Income Tax     HC

Benefit u/s 32(2)(iii) - Carried forward unabsorbed depreciation cannot be set off with short-term capital gain arising from sale of depreciaible assets - HC

View Source

 


 

You may also like:

  1. Depreciation on glow sign boards and oxygen gas cylinders was rejected by the Assessing Officer, holding that the transaction on the last day of the accounting year...

  2. ITAT ruled on long-term capital gains from unlisted shares under India-Mauritius DTAA, specifically addressing loss carry-forward without offsetting against capital...

  3. Capital gains u/s 50 arising from the sale of long-term capital assets, though deemed as short-term capital gains, should be taxed at the rates applicable to long-term...

  4. 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...

  5. Current year's depreciation is to be allowed as set off from the Long Term Capital Gains and brought forward depreciation is to be treated as current year's depreciation...

  6. Gain on the sale of assets - Long Term capital gain OR Short Term Capital Gains - “financial asset” u/s 2(42A) or not? - Since the intangible assets are covered in the...

  7. The ITAT Mumbai addressed errors in capital gain computation. The Assessee's claim of ₹ 859,680 was accepted over the AO's ₹ 791,221. An application u/s 154...

  8. 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...

  9. Deduction u/s 54EC - short capital gain arising on sale of depreciable asset - it cannot be said that section 50 converts long-term capital asset into a short-term...

  10. Period of limitation for carrying forward of Unabsorbed depreciation loss prior to assessment year - once the Circular No.14 of 2001 clarified that the restriction of 8...

  11. 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...

  12. As per section 72(2), unabsorbed business loss is to be first set off and thereafter unabsorbed depreciation treated as current years depreciation u/s 32(2) is to be set...

  13. Carry forward of the depreciation loss - once the Circular No.14 of 2001 clarified that the restriction of 8 years for carry forward and set off of unabsorbed...

  14. 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...

  15. 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:...

 

Quick Updates:Latest Updates