Home Highlights January 2014 Year 2014 This

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1. 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)...

2. Sale of shops/flats - Capital gain v/s business income - There was no intention of the assessee to enter into real estate business. The assessee has also shown sale...

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

4. 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...

5. Capital gain on property gifted - Execution of sale deed instead of gift deed wrongly in favor of Daughter in law (DIL) - DIL has not paid the amount as mentioned in the...

6. Capital gain computation - whether the amount paid by the buyer to the tenant for the vacation of tenancy can be taxed in the hands of the tenants or owner of the...

7. Reopening of assessment u/s 147 - The assessee had made full disclosure regarding the facts and circumstances in which the said amount was paid. It is obvious that the...

8. Capital Gain - Transfer u/s 2(47)(v) - assessment year - AO himself has given credit for the amount of capital gains declared for the assessment year 2013-14, while...

9. Long-term capital gains - receipts by the assessee as per the consent decree passed by the Hon”ble Bombay High Court - suit for specific performance of the Agreement to...

10. The case pertains to the applicability of Section 43CA, which deals with the adoption of stamp duty value as the full value of consideration for computing profits and...

11. During a search operation, the assessee surrendered a lump sum amount as alleged long-term capital gains from the sale of shares as additional income u/s 132(4). The...

12. Surplus earned on the sale of plot - ‘capital gain‘ OR ‘business income’ - There is no clause in the partnership deed about making investment in the land and to earn...

13. Exemption u/s 54F - disallowance being long term capital gain on sale of plot - LTCG - section 54F nowhere envisages that the sale consideration obtained by assessee...

14. Income earned profit on sale of mutual funds - capital gain OR business income - Holding period of the assessee is minimum of 72 days and maximum of 186 days - profit of...

15. 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,...