Capital gains - Revaluation at market value results in notional ...

Case Laws Income Tax

November 7, 2016

Capital gains - Revaluation at market value results in notional imaginary profit which cannot be taxed. Revaluation of an asset which an assessee continues to hold is not a taxable event and does not give rise to any taxable income - No tax liability - AT

View Source

← Previous Next →

Capital gains - Revaluation at market value results in notional ...

Case Laws Income Tax

November 7, 2016

You may also like:

Capital gains - Firm is succeeded by a company with no change either in the number of members or in the value of assets - Transfer by way of distribution of assets - the...

Capital gain - even where cost of acquisition of capital asset cannot be ascertained but the asset has market value, capital gain will be attracted by taking the cost of...

Short term capital gain - capital gain arose from transfer of land to the partnership firm by way of capital contribution as the assets was converted to Fixed Capital...

Taxability as a result of amalgamation - A foreign company has a branch in India holding shares in India company - The Revenue has given a strange method of working out...

The CIT (Appeals) correctly invoked Section 45(4) to tax the increase in partners' capital accounts due to revaluation of firm assets, as this constitutes transfer of...

Capital gain - revaluation of the satellite rights - The revaluation of the assets by the partnership firm would not attract any capital gain - There was no transfer - HC

LTCG - Determination of Fair Market Value (FMV) - The Assessing Officer and the Commissioner of Income Tax (Appeals) accepted the fair market value of the property as on...

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...

Capital gains taxation streamlined with short-term gains on certain financial assets attracting 20% tax and long-term gains on all assets attracting 12.5% tax. Exemption...

The appellant firm had purchased lands for business purposes but did not carry out any business activities on those lands. The firm transferred the amounts pertaining to...

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 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...

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,...

Deduction u/s 80IA - quantum of profits and gains of the eligible business - Scope of expression “market value” - The market value of the power supplied by the assessee...

Revision u/s 263 by CIT - set off of brought forward business loss from the income assessable under the head 'Capital Gain' - gain of depreciable assets by entering into...

Quick Updates: