Home Highlights July 2014 Year 2014 This

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1. Regarding long-term capital gain determination, indexed cost of acquisition claimed by assessee at Rs. 45 lakhs for property valued over Rs. 45 lakhs, evidenced by...

2. Setting off the long term capital loss arising on sale of shares not subject to STT against long term capital gain arising from sale of Shares subjected to STT exempt...

3. Transfer of capital asset by a company to its subsidiary company - Long term capital gain v/s long term capital loss - transaction cannot be regarded as transfer u/s...

4. Revision u/s 263 by CIT - Wrong claim of carry forward of long term capital loss - the long term capital gain, which is exempted under section 10(38) of the Act, would...

5. Disallowance of long term capital loss on sale of shares - sham transactions or genuine transactions - - It seems to be a case of tax planning by the assessee, though...

6. Non setting off the short term capital gain against long term capital loss brought forward - There is merit in the contentions of the appellant that prior to amendment...

7. Bogus LTCG - genuineness of transaction not proved - exemption u/s 10(38) - assessee failed to prove genuineness of transaction and long-term capital gain on sale of...

8. Assessee has rightly claimed short term capital loss which is eligible to be set off against long term capital gain and the impugned transaction is neither “sham” nor...

9. Denial of carry forward of long term capital loss - When the he taxed the difference in amount under short term capital gain and also disallowed short term capital loss...

10. Bogus LTCG - Disallowing exemption u/s 10(38) - penny stock - The said company held as a penny stock company by the authorities below without any corroborative evidence...

11. Bogus LTCG - penny stock purchases - genuineness of claim of exempt income u/s 10(38) of the Act from Long Term Capital Gain - Since we have held the transaction of Long...

12. Set off of brought forward business loss and brought forward long term capital loss - capital gains computed u/s 50 is be deemed to be short-term capital gains and this...

13. Exemption u/s 10(38) - bogus LTCG on purchase and sale of shares - disallowance brokerage expense - penny stock transaction - ssessee has successfully proved the...

14. Setoff of short term loss from shares with short term capital gain - Genuineness of loss - the AO could not have on one hand accepted the genuineness of the transaction...

15. 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...