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
Wealth-tax - Highlights / Catch Notes

Home Highlights February 2016 Year 2016 This

Inclusion of assets in to the the net wealth of the assessee ...


Assessing Officer to Determine Asset Inclusion in Individual's Net Wealth vs. Larger Hindu Undivided Family.

February 17, 2016

Case Laws     Wealth-tax     AT

Inclusion of assets in to the the net wealth of the assessee (Individual) - whether assets are belonging to bigger HUF - AO directed to make addition of assets in the net wealth of M.N. Navale (Bigger HUF) to the extent of matching sources of funds available and the remaining assets, if any in the net wealth of the assessee - AT

View Source

 


 

You may also like:

  1. Excess premium charged on issue of shares u/s.56(2)(viib) - The value adopted by the Assessing Officer under net asset value method even though a prescribed method does...

  2. Reopening of assessment u/s 147 - Assessing Officer to usurp the jurisdiction to reopen the assessment - The first Assessing Officer has made the reassessment after...

  3. Wealth tax - the commercial asset used by the assessee substantially and partly given on lease are not business assets and thus includible into the 'net wealth' u/s...

  4. Wealth Tax - taxability of net wealth of AOP– S.21AA only ropes in an AOP for being assessed under the Wealth Tax Act but subject to the rider that it’s members should...

  5. Determining the jurisdiction of appellate forum - jurisdiction of this Tribunal - The Tribunal refers to the legal precedent established in a Supreme Court case...

  6. Disallowance of depreciation - no business activity was carried out by the assessee company - The use of individual asset for the purpose of business may be examined...

  7. Exemption from wealth-tax in respect of assets specified in declaration - THE INCOME DECLARATION SCHEME, 2016

  8. If the object of the legislature is to tax the gains arising on transfer of a capital asset acquired under a gift or will or inheritance by including the period for...

  9. Determination of net wealth of assessee - Renting of property - once the rental income from the property is treated as “business income” and the character of the asset...

  10. Penalty levied u/ss 271(1)(c) and 271AAA for unexplained investment and addition made by adopting net profit as per the books of accounts at 12.85% on the suppressed...

  11. LTCG - Computation of cost of acquisition of the property - Unless the Assessing Officer proves that the assessee has demolished existing building and dismantled...

  12. Inclusion of let out property in the wealth tax assessment - scope and ambit of wealth tax u/s 2(ea)(i)(5) - wealth tax is not to be levied on productive assets - AT

  13. The key points covered in the summary are: Disallowance of deduction u/s 36(1)(vii) for debts written off, as the assessee did not create a provision in the books, which...

  14. Disallowance of depreciation allowance - WDV - plant and machinery were not used during the year due to change in business model - nce an asset is part of the block of...

  15. Disallowance of depreciation rejecting concept of 'Block of Asset' - use of individual assets - business use of each item of a block of assets is not necessary for...

 

Quick Updates:Latest Updates