Selling of trees which were grown spontaneously for which there ...

Case Laws Income Tax

August 19, 2013

Selling of trees which were grown spontaneously for which there is no cost of acquisition - sale of trees grown spontaneously has to be treated as capital in nature and since there is no cost of acquisition, it is not liable for taxation. - AT

View Source

← Previous Next →

Selling of trees which were grown spontaneously for which there ...

Case Laws Income Tax

August 19, 2013

You may also like:

Capital gain computation - cost of acquisition of the immovable property - The deduction on account of cost of acquisition is to be allowed with reference to the...

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

Cost of acquisition - the ownership right sold by the assessee is having nil cost of acquisition. - this argument of the assessee that there will be no capital gain...

Addition of capital gain - cost of indexation - JDA property - Though in the definition of 'indexed cost of acquisition', the word used are, "in which the asset was held...

Taxability - Sales of cut / sized Silver Oak grown as shade trees in the Tea Estates - It is not the case of the Revenue that the growth of Silver Oak is wild or...

The firm is succeeded by the company, therefore, the cost of acquisition of the company would be as that of acquisition of the firm. The valuation of land and assets of...

Capital gains - sale of flat allotted by cooperative housing society - cost of acquisition, non-allowance of registration expenses and cost of improvement - cost as...

Capital gains computation - cost of acquisition relates back to date of transfer through will/family settlement to beneficiary. Determination of indexed cost of...

Agricultural income - sale of timber of the trees that were grown on the border of his land - ITO clearly observed that when he visited land, he found around 30 stems of...

Revision u/s 263 - sale of preferential shares - PCIT noted a discrepancy between the value of shares sold as per the audited balance sheet and the value declared in the...

Computation of ‘Cost of Sales’ and closing value of land - matching concept for determination of true profits - where the sale revenue has been recognized on the basis...

Levy of differential Additional Duty of Customs - Valuation for CVD - In this case since the goods are not sold to the consumer there cannot be a retail sale price. The...

LTCG on sale of wood – Sale of timber out of shade trees - Solely on the basis of some letter written by the Officer of the Government Department, the cost of...

The proposed amendment seeks to address a lacuna in the computation of cost of acquisition under clause (ac) of sub-section (2) of section 55 of the Income Tax Act, 1961...

Capital Gain - property received by way of gift - Cost of acquisition of the asset shall be the cost for which the previous owner of the property acquired it, as...

Quick Updates: