Home Highlights October 2014 Year 2014 This

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1. Addition u/s 50C - Capital Gains - For the purposes of third proviso to S. 50C(1) of I.T.Act; the valuation of the property by DVO has no relevance; and what is material...

2. Long-term capital gain - cost of acquisition - capital gain worked out by the DVO - They have calculated the long-term capital gain simply by taking into consideration...

3. Computation of capital gain - 'real' capital gains V/S presumptive capital gains - Assessee cannot be denied an opportunity to raise his objections even against the...

4. Levy of penalty u/s 271(1)(c) - Computation of capital gain - assessee cannot be made subject levy of penalty under section 271(1)(c) of the Act merely for reason that...

5. Capital gain computation - value determined by the stamp duty authorities in terms of Section 50C(1) - When assessee objected the value adopted or assessed by the stamp...

6. The Appellate Tribunal addressed the issue of the retrospective or prospective application of amended provisions of Section 50C regarding Capital Gain computation....

7. Addition as short term capital gain by invoking the provisions of section 50C - difference between the declared sale consideration and the market value is within the...

8. Capital gain computation - right in land or building - stamp duty valuation - invoking of Section 50C - the present transaction of six properties in question does not...

9. Capital gain - Denial of benefit of 1st proviso to section 50C(1) which allows the consideration value fixed in the agreement to be considered instead of the stamp...

10. Capital gain - value determined by the DVO - entitled for the benefit of proviso to section 50C(1) - Regarding two properties, there is a difference of 14.77% and 14.58%...

11. Computation of LTCG - adoption of value u/s 50C - there is no value fixed by the Stamp Valuation Authority as there was no sale deed. -as the properties at Chowbaga...

12. Penalty u/s 271 (1)(c) - capital gain assessed as per the provisions of section 50C/2(14) - The direction of CIT(A) is clear that penalty cannot be imposed on the basis...

13. Determination of value u/s 50C - Validity of order of CIT(A) directing the AO to recalculate the capital gain on sale of land taking total value of property of Rs. 6.05...

14. Computation of Capital gain - Section 50C applicability - first proviso to Section 50C of the Act, is applicable retrospectively. It does not create any new right...

15. The Appellate Tribunal considered the applicability of u/s 50C regarding capital gain computation for the transfer of leasehold rights. It was held that u/s 50C applies...