Amount received on transfer of Bungalow - the presumption under ...

Bungalow Sale Proceeds Considered Capital Gains for Tax, Even if Ownership Gained Post-Sale.

February 11, 2016

Case Laws Income Tax AT

Amount received on transfer of Bungalow - the presumption under the law is that the assessee had sold his interest in the entire property even if he has acquired such ownership rights after the sale. - to be assessed under the head “capital gains” - AT

View Source

← Previous Next →

Amount received on transfer of Bungalow - the presumption under ...

Bungalow Sale Proceeds Considered Capital Gains for Tax, Even if Ownership Gained Post-Sale.

February 11, 2016

Case Laws Income Tax AT

You may also like:

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...

The Appellate Tribunal considered whether the sale proceeds of residential units should be treated as capital gains or business receipts. It was found that the...

Rate of tax on sale of depreciable assets - STCG vs LTCG - as per Section 112 of the Act, the tax on long term capital gains on transfer of a long term capital asset is...

Depreciation on glow sign boards and oxygen gas cylinders was rejected by the Assessing Officer, holding that the transaction on the last day of the accounting year...

Setting off the long term capital loss arising on sale of shares not subject to STT against long term capital gain arising from sale of Shares subjected to STT exempt...

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,...

ITAT held that gains from sale of trademarks "Coldarin" and "Raricap" acquired prior to 01/04/1998 qualify as Long Term Capital Gains, not Short Term Capital Gains....

LTCG or STCG - Sale of ground floor of residential unit - whether it give rise to long term capital gains or short term capital gains - Computation from period of...

Computation of Capital Gains - Exclusion of the portion of the sale consideration that was never received - The High court found that the real income (capital gains)...

Capital gain tax u/s 45 - shares distributed in family settlement - this Tribunal is of the considered opinion that there is no transfer of capital asset, hence, it is...

Capital gain - sale of property by the legal heir with the co-owners - the assessee (as legal heir of the said property) is liable to capital gains tax during the year...

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...

Correct head of income - treatment of income from sale and purchase of shares - business income or income from capital gains - high volume of transactions and frequently...

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...

Surplus earned on the sale of plot - ‘capital gain‘ OR ‘business income’ - There is no clause in the partnership deed about making investment in the land and to earn...

Quick Updates: