Home Highlights June 2015 Year 2015 This

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1. Receipt on account of surrender of tenancy rights - till the amendment in 1995, the compensation received on surrendering the tenancy rights could not be assessed to...

2. Capital gain - LTCG - capital asset u/s 2(14) - Exemption u/s 54/54F - Right in the asset relinquished/ surrendered after booking of flat - Period of holding - surplus/...

3. Taxability as capital gain or not - Surrender / transfer of tenancy rights - Applicability of section 50C for valuation - The AO treated the transaction as a surrender...

4. Transfer of tenancy right - long term asset or short term asset - the tenancy rights were held for nearly 14 years and consideration received on surrender has been...

5. Capital gain on tenancy rights - transfer u/s 2(47) - Even if the assessee has not paid any amount for purchase of tenancy rights, the nature of rights would remain...

6. Taxability of sale of sub-tenancy rights - Income from Other Sources OR Income from Capital Gains - when tenancy is recognised as capital asset within meaning of Section...

7. Taxable services - refrain from an act or agreed to tolerate any act - surrender of tenancy rights or benefits - the view of adjudicating authority that ‘capital gains’...

8. Long term capital gain - sub-tenancy right - the assessee had a sub-tenancy right in the property and upon surrender thereof, the assessee received a sum which was...

9. Capital gain u/s 45 - capital gain on surrender of leasehold right - Transfer u/s 2(47) or not? - The Tribunal held that, the act of these assessees in not disclosing...

10. Relinquishment of right before development - Right to sue surrendered in lieu of getting compensation money - capital gain or business income - the impugned compensation...

11. Payment made for surrender of tenancy rights - deduction allowed u/s 37(1) - AT

12. Taxability of capital gain arising from sale of property - The assessee had acquired a right to get a particular flat from the builder and that right of the assessee...

13. Capital gains or Income from other sources - Tenancy rights have also been recognized as capital asset within the meaning of section 55(2)(a) of the Act - AT

14. 'Capital asset' means, 'property of any kind held by an assessee'. - it does not necessarily mean that the property, which the assessee holds, must be his own. And...

15. Addition of surrender of tenancy rights – the amount received against the transfer of tenancy is assessable as capital gain and not income from other sources - AT