Register Daily Newsletters My Bookmarks My Queries (D. Forum) My Replies (D. Forum) My Articles My Inbox (PM) Feedback/ Suggestions
Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding

   For Sales / Support:
WhatsApp WhatsApp 9911796707
Case Laws Acts Notifications Circulars Classification Forms Manuals Articles News D. Forum Highlights Notes
TMI - e-Newsletter     TaxTMI    Tax Return Filing Modernized: New Electronic Rule...     TaxTMI    Exporters Win: Refund Claim Upheld Despite Document...     TaxTMI    Govt Raises Excise Duty on Petrol and Diesel to Rs....     TaxTMI    Insolvency Professionals Regulations Updated: Time...     TaxTMI    Insolvency Resolution Professionals Must Now Use...     TaxTMI    Interactive Flat Panel Displays Clarified:...     TaxTMI    Government Extends Sea Cargo Manifest Regulations...     TaxTMI    Customs Importers Must Upload Complete E-Sanchit...     TaxTMI    Financial Intermediaries Must Meet Strict...     TaxTMI    SEBI Mandates Standardized System and Network Audit...     TaxTMI    RBI Sets Foreign Portfolio Investment Limits for...     TaxTMI    Data Management Charges Not Taxable as Technical...     TaxTMI    Legal Appeal Reinstated: Signature Validation and...     TaxTMI    Taxpayers Can Rectify Technical Errors in GST...     TaxTMI    Tax Authority's Reassessment Against Mutual Fund...     TaxTMI    Latest Case-Laws     TaxTMI    Latest Notifications + Circulars     TaxTMI    GST Council Decisions     TaxTMI       Right Stop
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights July 2012 Year 2012 This

Profits from the sale of the property - Considering the ...


Assessment Officer's Inconsistent Stance on Section 54EC Exemption and Indexed Cost in Property Sale Evaluation.

July 10, 2012

Case Laws     Income Tax     AT

Profits from the sale of the property - Considering the statement of total income shows that in treating the business income, the A.O. himself has accepted (a) index cost of acquisition and (b) exemption u/s.54EC. The A.O. cannot blow hot and cold in the same breath - AT

View Source

 

← Previous Next →

 

You may also like:

  1. Addition of capital gain - cost of indexation - JDA property - Though in the definition of 'indexed cost of acquisition', the word used are, "in which the asset was held...

  2. LTCG - Computation of cost of acquisition of the property - Unless the Assessing Officer proves that the assessee has demolished existing building and dismantled...

  3. Capital gains computation - cost of acquisition relates back to date of transfer through will/family settlement to beneficiary. Determination of indexed cost of...

  4. Addition on account of long term capital gains - indexed cost of acquisition - Claim of assessee that in financial year 1994- 95, the assessee has gifted certain portion...

  5. Entitlement to cost of improvement and consequent indexed cost of improvement - The assessee’s wife who was holding 50% title on the said land, has not been allowed cost...

  6. Indexed cost of acquisition disallowed based on DVO report u/s 142A. Assessee's valuer determined cost at Rs. 89,800 per sq. yard, DVO at Rs. 72,000 per sq. meter....

  7. ITAT held that when computing capital gains for inherited/gifted property acquired pre-1981, the "first year asset held" refers to original ownership by previous owner,...

  8. Short term capital gain or long term capital gain of capital assets - sale of building with land - denying indexed cost of acquisition and indexed cost of improvement...

  9. 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...

  10. Capital Gain - property received by way of gift - Cost of acquisition of the asset shall be the cost for which the previous owner of the property acquired it, as...

  11. Cost Inflation Index for the Financial Year 2022-23 notified as 331

  12. Cost inflation index for the Financial Year 2018-19 notified as 280

  13. Cost Inflation Index for the Financial Year 2012-13 - Notification

  14. IT : Notified Cost Inflation Index for Financial Year 2012-13.

  15. Cost inflation index notified as 785 for the FY 2011-2012

 

Quick Updates:Latest Updates

What's New:
    Latest Case Laws
What's New:
    Latest Notifications
What's New:
    Latest Circulars
F: E-commerce Web Development Services: Export Compliance Strategies for ...
F: GST Export Services: Navigating Invoice Remittance Challenges with Thi...
F: Printer Rental TDS Puzzle: Navigating Tax Complexities for Corporate E...
T: Clause 114 Introduces Refined Loss Adjustment Mechanism for Specified ...
T: Speculative Business Losses: Strict Tax Rules Limit Offset and Carry-F...
T: Tax Attributes Transfer Enables Smooth Co-operative Bank Mergers Under...
T: Tax Losses Transferable: Banking and Government Entities Can Now Carry...
F: Tax Professionals Navigate Complex GST Return Challenges with Strategi...
A: Digital Signatures and Director IDs Mandatory for OPC Annual Returns t...
A: Input Tax Credit for Commercial Properties Depends on Functional Neces...
A: Postal Import Regulations 2025 Streamline Cross-Border Shipping Protoc...
A: Customs Brokers: Navigating Global Trade Complexities with Expert Docu...
A: Customs Brokers Navigate Complex Import-Export Regulations Through Lic...
A: Freight Forwarders: Essential Logistics Experts Bridging Global Trade ...
A: Comprehensive Labeling Rules for Pre-Packaged Fertilizers Ensure Consu...
A: Comprehensive Fertilizer Import Guidelines Streamline Agricultural Tra...
A: Fertilizer Import Dynamics: Balancing Global Supply, Domestic Needs, a...
A: Comprehensive Regulatory Framework Ensuring Quality, Distribution, and...
A: Customs Authority Launches NIRYAT SAMVAAD: Monthly Grievance Platform ...
H: Minor Invoice Number Mismatch Does Not Justify Penalty: Technical Erro...
H: Procedural Fairness Prevails: Appeal Reinstated After Violation of Nat...
H: GST Registration Cancellation Overturned: Procedural Flaws and Lack of...
H: Taxpayers Can File Delayed GST Returns After Paying Interest, Court Al...
H: Tax Refund Claim Validated: Department Must Process Refund When No App...
H: Appeal Reinstated: Authorized Signatory Validated, Procedural Fairness...
H: Tax Credit Dispute Resolved: Taxpayer's Genuine Error Recognized, Rect...
H: Income Tax Reassessment Invalidated: AO Fails to Provide Substantive E...
H: ITAT Grants Tax Deductions for CSR Expenses, Directs Reassessment of T...
H: Faceless Assessment Scheme: NFeAC Lacks Jurisdiction for Notices Issue...
H: Taxpayer Wins Major Relief: Multiple Expense Disallowances Deleted Bas...