Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights September 2014 Year 2014 This

LTCG on sale of wood – Sale of timber out of shade trees - ...

Case Laws     Income Tax

September 3, 2014

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 acquisition of the assets cannot be assessed. - AT

View Source

 


 

You may also like:

  1. 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...

  2. Nature of receipt - Agriculture income - sale of tea bushes and receipt received on account of sale of trees as business income of the assessee - the action of the lower...

  3. 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...

  4. Supply or not - activity of depositing the timber / wood by the applicant in the Depot - There is no provision in the GST Act for shifting of the tax liability and...

  5. Validity of order passed u/s 144B - disregarding the stay granted by this court - In the assessment order, the Assessing Officer is referring to a letter stating that...

  6. Export of prohibited item - item description covered under prohibited wood does not cover blocks that to made exclusively out of imported logs/timber - CHA had...

  7. LTCG - Computation of cost of acquisition of the property - Unless the Assessing Officer proves that the assessee has demolished existing building and dismantled...

  8. Capital gains on sale of office premises determined as long-term capital gains (LTCG) eligible for exemption u/s 54F. The date of allotment when the right to own the...

  9. Rejection of declared value - enhancement of value - the value of rejected grade timber cannot be enhanced on the basis of good quality timber.

  10. Inter state sale or Intra-state sale - elevators are sold to the contractees - If we understand correctly what the Assessing Officer is trying to convey is that had the...

  11. Cancellation of petitioner’s GST registration - it is noticed that the impugned SCN was issued solely on the basis of a letter received from another authority. The said...

  12. Revision u/s 263 by CIT - reopening on the basis of letter written by JCIT - In the case in hand the Ld. Revisional Authority has done no homework on its end but merely...

  13. Classification of supply - Rate of GST - it is a composite contract of cutting of live trees to obtain the logs and transfer of the timber logs, with transfer of timber...

  14. Tax collected at source (TCS) u/s 206C on sale of scrap - Revenue treated assessee as "defaulter" for non-collection of TCS u/s 206C. Held: Sale categorized into three...

  15. Tax Collection at Soruce (TCS) - Addition u/s 206C(6)/206C(7) - whether the Swan timber is different from timber - if the timber is being sized, sawn into logs of...

 

Quick Updates:Latest Updates