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 June 2015 Year 2015 This

Addition on capital gain - invocation of provisions of section ...


Section 50C: No Capital Gain for Assessee in Joint Venture; Gains Attributed to Methodist Church in India.

June 23, 2015

Case Laws     Income Tax     AT

Addition on capital gain - invocation of provisions of section 50C - Joint Venture (JV) Since the assessee has not received any consideration in lieu of any transfer of the capital asset, there is no question of any capital gain in the hands of the assessee. Whatever capital gain has arisen, it is only in the hands of Methodist Church in India and not in the hands of the assessee. - AT

View Source

 


 

You may also like:

  1. Correct head of income - treatment of gain on sale of shares in joint venture as capital gain or business income - CIT(A) while upholding the disallowance of set off of...

  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. 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...

  4. 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...

  5. Deduction u/s.54F - Receipt of 10 flats in lieu of Joint development agreement (JDA) of land - assessee did not offer any long term capital gain (LTCG) on entering into...

  6. Capital gain from sale of commercial property - intra-head adjustment of loss - Benefit of carry forward of long term capital loss on the sale of shares for the current...

  7. 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...

  8. Exemption u/s 54F - disallowance being long term capital gain on sale of plot - LTCG - section 54F nowhere envisages that the sale consideration obtained by assessee...

  9. Gains arising on buy-back of shares taxable u/s 46A or under section 45 - “Transfer” in section 46A - section 45 and section 46A operate in different fields. Section 45...

  10. Capital gains - Transfer of property - joint development agreement - capital gains on the assessee’s land correctly brought to tax by the AO - AT

  11. Right to subscribe to shares in future - Section 45(1) provides that any profits or gains from the transfer of capital asset are taxable as capital gains, but then, even...

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

  13. Applicability of section 50C - Capital gain - Sale of right in land/contingent right - proof of transfer of capital asset - Section 50C is also applicable on lease hold...

  14. 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...

  15. Capital Gain - Receipt of consolidated amount - where a gain from one of capital assets was a short-term capital gain while from other it was a long term capital gain,...

 

Quick Updates:Latest Updates