The assessee was treated as deem owner for the limited purpose ...

Director Liable for Tax on Sale Proceeds, Not Assessee-Company, Due to Deemed Ownership of Assets for Depreciation.

September 12, 2016

Case Laws Income Tax AT

The assessee was treated as deem owner for the limited purpose of claiming of depreciation. As such, assessee-company never became the owner of the land and building. Therefore sale proceeds received by Director of the assessee-company is taxable in the hands of Director and not in the hands of assessee-company - AT

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The assessee was treated as deem owner for the limited purpose ...

Director Liable for Tax on Sale Proceeds, Not Assessee-Company, Due to Deemed Ownership of Assets for Depreciation.

September 12, 2016

Case Laws Income Tax AT

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