Home Highlights August 2011 Year 2011 This

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1. Just because in the a AY assessee had not claimed depreciation would not make any impact on the method to be followed for working out the capital gain... - AT

2. The assessee claimed that no capital gain was chargeable on receipt from transfer of trademark as there was no cost of acquisition. However, the tribunal held that the...

3. 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...

4. Computing the capital gain on sale of assets - WDV of depreciable assets - Exemption u/s 11 - the assessee has partly claimed the depreciation on this asset and when the...

5. Depreciation on Goodwill - inflated value of goodwill - the assessee has followed a different method for accounting goodwill in books of accounts, so as to claim higher...

6. 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...

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

8. Foreign exchange fluctuation - As we understand from the record, the gist of the method followed by the assessee is that, the assessee in Schedule IX claimed less...

9. Treaty benefits - ‘gains from alienation of shares' - taxability or otherwise of capital gain from sale of equity shares under Article 13(4) of India-Mauritius DTAA -...

10. Simultaneous claim of depreciation and deduction of depreciation write back - amount credited in P& L Account due to change in the method of providing depreciation as...

11. Capital Gain - Transfer of capital asset u/s 2(47) - year of assessment - since the property was actually transferred in A.Y. 2013-14 the computation of short-term...

12. 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...

13. Computation of capital gains under section 50 - no depreciation had been claimed or allowed in respect of the asset - Once, this is a fact that the moment assessee...

14. 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,...

15. Deduction claimed u/s. 54 - delay in depositing unutilized amount in capital gains account deposit scheme - Assessee has explained reasons for depositing unutilized...