Capital gains consequent to the development agreement - year of ...

Capital gains tax from development agreements is due when possession transfers, not in later years.

December 26, 2017

Case Laws Income Tax AT

Capital gains consequent to the development agreement - year of assessment - A transfer can be said to have taken place in the year when the possession was handed over by the assessee. Thus, capital gains tax, if any, is attracted in the year of agreement and not in the later years. - AT

View Source

← Previous Next →

Capital gains consequent to the development agreement - year of ...

Capital gains tax from development agreements is due when possession transfers, not in later years.

December 26, 2017

Case Laws Income Tax AT

You may also like:

Joint development agreement - Assessment of capital gain for Asst. Year 2007-08 - transfer of property - held as transfer - liable to capital gain - AT

Capital gain - JDA - transfer of capital asset u/s 2(47) - There is no document by which the revenue can come to the conclusion that there was delivery of possession....

Capital Gain - Transfer u/s 2(47)(v) - assessment year - AO himself has given credit for the amount of capital gains declared for the assessment year 2013-14, while...

The HC held that handing over possession of land to a developer for construction purposes under a development agreement, without actual transfer of ownership or payment...

Assessee claimed deduction u/s 54F for amount deposited in Capital Gain Account Scheme (CGAS) on transfer of capital asset. Unutilized amount withdrawn from CGAS account...

Nature of capital gain - long term vs short term - recognition of consideration given by earlier agreement of development rights in land in the later registered document...

Year of taxability of capital gains - taking possession alone in to consideration for levy of capital gains ignoring the date of agreement and terms of agreement is not...

Assessability of capital gains of property – Development agreement - no deemed transferred could be inferred and no capital gains could be brought to tax in the hands of...

Capital gains - Transfer of property - joint development agreement - capital gains on the assessee’s land correctly brought to tax by the AO - AT

Transfer of property and accrual of capital gain - Year of transfer of capital asset - Agreement to sell - It is not the case of the AO that the provisions of sec. 53A...

Capital gain - JDA entered - Transfer of capital asset - From a reading of the above clauses of the JDA, it is clear that the Developer will take possession of the...

Capital Gains - transfer by mere agreement - the transfer of the above stated property took place only in AY 2011-12, when assessee has declared the capital gain...

Capital gain - transfer u/s 2(47) - unregistered JD agreement - appellant had not received any consideration - since an unregistered agreement involving the transfer of...

Capital gain on transfer of shares - capital gains arising from the transfer of shares because of family arrangement - the assessee has transferred the shares based on...

Capital gain - JDA or agreement for sale - In the instant case, there is no Joint Development Agreement (JDA), but only an unregistered sale agreement, which could not...

Quick Updates: