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 February 2012 Year 2012 This

Amount received for surrender of tenancy rights – applicability ...


Court Rules Tenancy Rights Surrender Payment Falls u/s 10(3) of Income Tax Act; Cost of Acquisition Ascertainable.

February 22, 2012

Case Laws     Income Tax     HC

Amount received for surrender of tenancy rights – applicability of section 10(3) – the cost of acquisition of tenancy was capable of ascertainment but the Revenue had taken a contrary stand that the cost of acquisition was incapable of being ascertained.- decided against the Revenue - HC

View Source

 


 

You may also like:

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

  2. Capital receipt versus casual and non-recurring income - Whether the Tribunal was right in holding that Section 10(3) of the Income Tax Act, 1961 was not applicable and...

  3. Transfer of capital goods to sister unit (transfer of business) - Rule 3 (5) of the Cenvat Credit Rules, 2004 - The conditionalities of Rule 10 given in sub-rule (3)...

  4. Compensation for surrender the tenancy right - tenancy right was a capital asset and surrender of the same was a transfer of a capital asset - HC

  5. 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...

  6. Applicability of Section 56(2)(x) of the Income Tax Act to the transfer or surrender of tenancy rights. It states that Section 56(2)(x) is a deeming provision akin to...

  7. Eligibility to claim refund of IGST - The availing exemption under Notification No.79/2017-Cus dated 13.10.2017 in respect of additional duty of Customs under...

  8. The High Court ruled on the constitutional validity of Rule 96(10) of the Central Goods and Services Tax (CGST) Rules, 2017, which was challenged as being ultra vires...

  9. CENVAT Credit - Whether the department can demand and recover under Rule 14 an amount under Rule 6(3) (i) equal to 10% of the value of the exempted products? - under no...

  10. CENVAT Credit - exempt goods - On merits, it is a case that the appellant is manufacturing dutiable goods not exempted goods. Some clearances were exempted from payment...

  11. Surrender of sub-tenancy right - capital gain v/s casual income - it cannot be treated as a casual and nonrecurring receipt under section 10(3) and subject to tax under...

  12. The adjudicating authority is bound to explain the alleged contraventions to the person proceeded against or their legal representatives. Rule 4(4) mandates...

  13. Validity of changes brought in Rule 6(3) (i) of Cenvat Credit Rules, 2004 - the Tribunal erred in not appreciating the significant change brought in Rule 6(3) of Cenvat...

  14. 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...

  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

 

Quick Updates:Latest Updates