Home Highlights December 2014 Year 2014 This

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1. Taxability of capital gain - person who sold property as attorney of the owner - It is the owner of capital asset who would be liable for capital gain. In case the sale...

2. Capital gain - sale of property by the legal heir with the co-owners - the assessee (as legal heir of the said property) is liable to capital gains tax during the year...

3. Capital gain - real owners of property/asst - 13 members of this society are the owners of the capital asset - Capital gain shall always be chargeable to tax only in the...

4. Capital gain tax - cost of acquisitionn - the long terms capital gains has to be from the date from which the capital asset in question was held by the previous owner...

5. Long term capital gain - sale of land - Legal owner of asset/property - CIT(A) and the AO has rightly concluded that when GPA was executed, clearly proves that the...

6. Capital Gain in hand of GPA holder - the recitals in the GPA show that the assessee is not the owner of the property but has only been granted authority to convey the...

7. The ITAT Mumbai addressed errors in capital gain computation. The Assessee's claim of ₹ 859,680 was accepted over the AO's ₹ 791,221. An application u/s 154...

8. Capital gains computation - cost of acquisition relates back to date of transfer through will/family settlement to beneficiary. Determination of indexed cost of...

9. Capital gain - legal owner of property - entire funds at the time of purchase of property was paid by his son the entire sale consideration is also received by her son -...

10. The assessee, an NRI and resident of USA, transferred a capital asset and derived capital gain. The asset comprised rights and interests acquired through an assignment...

11. Rate of tax on sale of depreciable assets - STCG vs LTCG - as per Section 112 of the Act, the tax on long term capital gains on transfer of a long term capital asset is...

12. Capital gain tax u/s 45 - shares distributed in family settlement - this Tribunal is of the considered opinion that there is no transfer of capital asset, hence, it is...

13. Long term capital gain - allowable expenditure u/s. 48(i) - The same land has been sold in the year under consideration giving rise to long term capital gains to the...

14. Taxability of global income - sale of shares - taxability of long term capital gain - Undisputedly, the shares sold by the assessee in the year under consideration were...

15. 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...