Home Highlights April 2014 Year 2014 This

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1. Assessability of capital gains of property – Development agreement - no deemed transferred could be inferred and no capital gains could be brought to tax in the hands of...

2. Capital Gains - transfer by mere agreement - the transfer of the above stated property took place only in AY 2011-12, when assessee has declared the capital gain...

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

4. LTCG - Exemption claimed u/s. 54F - Failure to deposited in capital gain deposit scheme - The appellant sold a property, deposited the sale proceeds in a capital gain...

5. Capital gain on transfer of shares - capital gains arising from the transfer of shares because of family arrangement - the assessee has transferred the shares based on...

6. 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...

7. Capital gain/ loss on sale of property - unregistered sale agreement - whether it constitute valid transfer under section 53A of Transfer of Property Act - There is no...

8. Capital gain - JDA - transfer of capital asset u/s 2(47) - There is no document by which the revenue can come to the conclusion that there was delivery of possession....

9. The appellant firm had purchased lands for business purposes but did not carry out any business activities on those lands. The firm transferred the amounts pertaining to...

10. Capital Gain - Transfer of capital asset u/s 2(47) - year of assessment - since the property was actually transferred in A.Y. 2013-14 the computation of short-term...

11. Joint development agreement - Assessment of capital gain for Asst. Year 2007-08 - transfer of property - held as transfer - liable to capital gain - AT

12. The Appellate Tribunal considered whether the sale proceeds of residential units should be treated as capital gains or business receipts. It was found that the...

13. Characterization of receipt - amount received by the appellant upon retirement from the partnership - taxability as capital gains under the Income Tax or not? - The High...

14. Transfer of property and accrual of capital gain - Year of transfer of capital asset - Agreement to sell - It is not the case of the AO that the provisions of sec. 53A...

15. Revenue receipt or capital receipt - Foreign exchange gain written back on cancellation of vessel construction contract taxed u/s. 28(iv) - The ITAT agreed with the...