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 January 2015 Year 2015 This

Computation of Capital gain - AO directed to allow claim in ...


AO Must Allow Developer's Bank Liability Claim for Taxpayer's Share u/s 48 of Income Tax Act.

January 29, 2015

Case Laws     Income Tax     AT

Computation of Capital gain - AO directed to allow claim in respect of bank liability of the developer repaid by the assessee and other co-owners, to extend of assessee’s share u/s. 48(i)/(ii) - AT

View Source

 


 

You may also like:

  1. The assessee, engaged in the business of shares and securities, claimed administration expenses, including Portfolio Management Service (PMS) expenses, against capital...

  2. Proposed amendment enables recovery of existing liabilities under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 from seized assets...

  3. Sections 132B, 140A, 153A and 234B of the Income Tax Act, 1961 were analyzed regarding adjustment of seized cash against tax liability. The appellants claimed that cash...

  4. Income tax liability of employees - Remission of income tax liability borne on behalf of the employees - it is also possible that earlier years the assessee has not...

  5. ITAT partially allowed taxpayer's appeal against additions made under Section 68 and Section 56(2)(viib) of Income Tax Act. Tribunal held that taxpayer adequately...

  6. Penalty levied u/s 274 read with Section 270A - assessee computed tax on disallowed depreciation amount at maximum marginal rate and levied 200% penalty on payable tax -...

  7. Reopening of assessment - shares were transferred by way of a gift - The petitioner argued that the transfer of shares as a gift did not attract capital gains tax...

  8. The assessee company is eligible to claim Foreign Tax Credit (FTC) against its Minimum Alternate Tax (MAT) liability u/s 115JB of the Income Tax Act for taxes paid in...

  9. The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

  10. The Appellant contended that its claim should be treated as a secured debt u/s 30 of the Insolvency and Bankruptcy Code (IBC), rather than as an unsecured debt. However,...

  11. The core summary is that banks constituted as 'corresponding new banks' under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 are not covered...

  12. Income assessed in hands of Appellant as Representative Assessee. No credit for prepaid taxes availed by beneficiaries. JCIT(A) directed AO to verify claim of prepaid...

  13. ITAT Order Summary: The ITAT partially allowed the assessee's appeal, directing deletion of several additions and modifications to income calculations. Key outcomes...

  14. The court held that the petitioner-bank's registered security interest with CERSAI, dated 17th March 2017, has priority over the dues claimed by the GST and Sales Tax...

  15. ITAT affirmed CIT(A)'s directive to grant TDS credit per Form 26AS despite taxpayer's initial failure to claim full credit in tax return due to software technical issues....

 

Quick Updates:Latest Updates