Assessability of profit on sale of development rights in land - ...

Profit from Sale of Development Rights Exempt from Section 50C of Income Tax Act; Applies to Land, Buildings Only.

January 2, 2015

Case Laws Income Tax AT

Assessability of profit on sale of development rights in land - provisions of section 50C of the Act are not applicable as the same are to be applied only where there is transfer of land or building or both - AT

View Source

← Previous Next →

Assessability of profit on sale of development rights in land - ...

Profit from Sale of Development Rights Exempt from Section 50C of Income Tax Act; Applies to Land, Buildings Only.

January 2, 2015

Case Laws Income Tax AT

You may also like:

Correct head of income - Profit or loss derived from sale of land - Assessee has computed profit or loss derived from sale of land under the head ‘capital gains’ to...

Levy of GST - sale of developed plot of land for which consideration is received before the issuance of completion certificate - The sale of developed land, by the...

Correct head of income - profit on sale of land /immovable property - business income or capital gain income - Correct head of income - profit on sale of land /immovable...

The ITAT Visakhapatnam dealt with a revision u/s 263 regarding the treatment of a residential property sale as short-term or long-term capital asset. The dispute...

Levy of GST - transfer of development rights of land by the land owners to the petitioner by way of a Joint Development Agreement - sale of land by the land owners or...

Addition of undisclosed income arising out of sale of land - on-money - Once, nature and character of land sold is established as agricultural land not to be treated as...

Taxability - activity relating to Sale/Transfer of leasehold Land and building and also to obtain permission for such sale - GST on upfront called premium amount as a...

Levy of GST - sale of Transferable Development Rights (TDR)/ Floor Space Index (FSI) received as consideration for surrendering the joint rights in land in terms of...

Levy of service tax on TDR / Transfer of land development rights - as the appellant has not acquired any land development right from DCPC, then how the appellant can...

Classification of supply - supply of goods or supply of services - sale of plots - As per entry 5 of Schedule III of SGST Act, sale of land and, subject to clause(b) of...

Allowable deduction in computing the capital gains - Expenditure wholly and exclusively in connection with the transfer of the property - There was no mentioning of any...

Gain on sale of land - Nature of land - agricultural land or capital asset or business receipts - Simply showing the land in the balance sheet as an investment is not...

Determination of capital gain - allocation of sale consideration between the land and building - The historical cost of building or WDV of building cannot be...

Sale of land - Assessing Officer in bringing to tax the short term capital gains arising from the sale of agricultural land under the head ‘business income’ - land in...

Nature of land sold - agricultural land or capital asset - the land is not subjected to any conversion as non-agricultural land by the assessee or any other concerned...

Quick Updates: