Exemption u/s 10(38) - If the share holder chooses to transfer ...

High Court Confirms Shareholder Land Transfer as Legal, Even for Tax Avoidance; Section 10(38) Exemption Applies.

July 22, 2013

Case Laws Income Tax HC

Exemption u/s 10(38) - If the share holder chooses to transfer the lands and part with the land to the purchaser of the shares, it would be a valid legal transaction in law and merely because they were able to avoid payment of tax, it cannot be said to be a colourable devise or a sham transaction or an unreal transaction - HC

View Source

← Previous Next →

Exemption u/s 10(38) - If the share holder chooses to transfer ...

High Court Confirms Shareholder Land Transfer as Legal, Even for Tax Avoidance; Section 10(38) Exemption Applies.

July 22, 2013

Case Laws Income Tax HC

You may also like:

Gain/loss on sale of shares - legal nature of the transaction - As per companies Act shareholder and company both are two separate legal person capable of holding...

The case pertains to service tax liability arising from the sale/transfer of a business as a going concern by way of slump sale under the Income Tax Act, 1961. The issue...

The Supreme Court held that the acquisition proceedings failed to comply with the statutory requirement of paying full and final compensation to the landowners before...

Assessee's claim for exemption u/s 10(35) was rejected by CPC while processing return u/s 143(1)(a), which attained finality as assessee failed to challenge it before...

Capital gain - Joint Development Agreement entered - transfer of the land u/s 2(47) - LTCG shall be chargeable to income tax as his income of the previous year in which...

Addition u/s 56(2)(vii)(c)(ii) - allotment of shares to assessee shareholder at a value lower - whether Tax to be paid by the shareholders or the company? - The shares...

Exemption u/s 10(38) - LTCG - general insurance business - In the present assessment year the ld AO has himself allowed exemption u/s 10(15)(iv)(h) of the Act in regard...

Nature of land sold - agricultural land or capital asset - the land is not subjected to any conversion as non-agricultural land by the assessee or any other concerned...

Exemption from payment of sales tax - poultry farm on leased land - exemption was rejected on the ground that the assessee was not the owner of the land where the farm...

This case deals with the taxability of compensation paid to landowners for land acquisition. The court held that u/s 96 of the Right to Fair Compensation and...

Compensation received under an award passed by the Land Acquisition Officer u/s 24(1) of the Right to Fair Compensation and Transparency in Land Acquisition,...

The ITAT Cochin dealt with a case involving Long Term Capital Gains (LTCG) arising from a Joint Development Agreement (JDA). The tribunal held that the transfer of...

Evasion of tax - mismatch in the e-way bill and the branch transfer invoice - levy of penalty and tax on the petitioner - The High Court observed that, even if there was...

TDS u/s 195 - addition u/s 40(a)(i) - non-deduction of taxes from payment made to Facebook Ireland Limited - Section 40(a)(i) acts as a restriction on the deductibility...

Capital gain arising on transfer of land - STCG arising out of the transfer of non-agricultural land - real owner - The appellant asserts that the land was purchased on...

Quick Updates: