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 December 2018 Year 2018 This

Revision u/s 263 - capital gain earned by the assessee on sale ...

Case Laws     Income Tax

December 5, 2018

Revision u/s 263 - capital gain earned by the assessee on sale of the shares has not been offered for the Book Profit tax under section 115JB - since no proper inquiry was conducted by the AO, the order is erroneous so far as it is prejudicial to the interest of the revenue.

View Source

 


 

You may also like:

  1. Revision u/s 263 by CIT - slum sale - The assessee has transferred the whole business under slump sale basis and it is fact on record that it is transferred the business...

  2. 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...

  3. Correct head of income - Gain on sale of shares - nature of purchase of shares either as “investment” or “stock-in-trade” - AO has not given any clear cut finding that...

  4. During a search operation, the assessee surrendered a lump sum amount as alleged long-term capital gains from the sale of shares as additional income u/s 132(4). The...

  5. Treaty benefits - ‘gains from alienation of shares' - taxability or otherwise of capital gain from sale of equity shares under Article 13(4) of India-Mauritius DTAA -...

  6. Computation of book profit u/s 115JB does not allow inclusion of capital gain from sale of flats with indexed cost benefit. Section 115JB requires calculation of book...

  7. Disallowance of set-off u/s 70 of share trading business loss against income from profession - the assessee has been able to substantiate that the shares were purchased...

  8. The assessee, an NRI and resident of USA, transferred a capital asset and derived capital gain. The asset comprised rights and interests acquired through an assignment...

  9. Income earned profit on sale of mutual funds - capital gain OR business income - Holding period of the assessee is minimum of 72 days and maximum of 186 days - profit of...

  10. Revision u/s 263 - Correct source of income - special rate of tax u/s. 115BBE - As per CIT income of the assessee should have been assessed as unexplained cash credit,...

  11. Revision u/s 263 - Addition u/s 68 - unexplained share capital and premium - The assessee had not only submitted all the details and evidences to prove the share capital...

  12. 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...

  13. 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...

  14. Exemption u/s 54F - disallowance being long term capital gain on sale of plot - LTCG - section 54F nowhere envisages that the sale consideration obtained by assessee...

  15. Sale of investments - Short term capital gain V/S business income - The assessee has accounted for these investments in shares as capital asset in its books of accounts...

 

Quick Updates:Latest Updates