Home Highlights March 2012 Year 2012 This

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1. Slump sale - CIT(A) was not correct in coming to the conclusion that the negative figure of the net worth should be ignored for working out the capital gains in case of...

2. 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)...

3. Computation of capital gain - slump sale - Long Term Capital Gains - aggregate value of assets for purpose of computing net worth of undertaking in terms of provisions...

4. Slump sale - assessee claimed as sale of depreciable assets - as per terms of agreement, the assessee sold the entire undertaking with all its assets and liabilities...

5. 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...

6. Slump sale of windmills - capital gains as a slump sale u/s 50B (2) - Wind mills constitute separate undertaking and the Ld.CIT(A) has rightly directed the AO to compute...

7. Computation of short term capital gains - Slump sale -CIT(A) has not reduced the amount of secured loans from the amounts of total assets to arrive at the net worth of...

8. Nature on sale - Slump Sale - capital gain u/s 50B - Transfer of asset or not? - Section 50B of the Act provides a mechanism for assessment of capital gain on ‘transfer’...

9. 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,...

10. Computation of capital gains - Slump sale u/s 2(42C) - transfer of capital assets u/s 2(47) - we took note of the submissions of the learned Senior Counsel for the...

11. MAT Computation - Even if the provision for doubtful debt is added back to the net profits, the resultant book profit is still negative and even though the assessee was...

12. MAT Computation - even if the provision for doubtful debt is added back to the net profits, the resultant book profit is still negative and even though the assessee was...

13. Slump sale of windmills - Short term capital gains - wind mills constitute separate undertaking and the Ld. CIT(A) has rightly directed the AO to compute the capital...

14. Slump sale - short term capital gain - the Assessing Officer/C.I.T.(A) erred in not accepting the computation of short term capital gains on slump sale of the...

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