Home Highlights August 2012 Year 2012 This

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1. Capital gain in respect of sale of only one property - addition u/s 50C - assessee itself had leasehold rights in the said property and hence in instant facts, the...

2. Valuation of the property under gift - Assessment u/s 15(2) of the Gift Tax Act determining the taxable gift - The assessee or her legal heir is now contesting the...

3. Addition in view of the Provisions of section 50C on the Gift of Plots - Transfer of property by a Company as a gift - AO concluded how the gift by one company to other...

4. Assessee utilized long-term capital gain from sale of immovable property for purchase of new residential property within permissible time period. Purchase consideration...

5. Gift of immovable property - assessee's brothers and mother have gifted their 1/8th undivided share - very heavy burden lies on the department to prove that it is not...

6. CENVAT Credit - input service - amount paid to the broker / property consultant for purchasing the immovable property to be used for providing output service of renting...

7. Deeming gift of immovable property - applicability of section 56(2)(vii) - gift of immovable property to appellant (done) prior to 1.10.2009 - Transfer Deed of lease...

8. Addition u/s 56(2)(vii)(b) - valuation of land purchased by assessee - deemed gift under section 56(2)(vii)(b)(ii) - Assessee submitted that, actual deed could not be...

9. Non-resident Indian donor gifted funds to assessee through cheques from NRE account, proving identity, creditworthiness, and genuineness. Assessing Officer made addition...

10. LTCG - gift of immovable property to daughter - it is argued that, mistakenly instead of gift deed, sale deed was made - assessee failed prove that the same is exemption...

11. Addition u/s 68 - unexplained gifts received from family members - The Appellate Tribunal found that the assessee had provided sufficient evidence to establish the...

12. Nature of gain on sale of property - LTCG or STCG - Receipt of propter through Gift or POA - Since the gift deed falls under the documents which registration is...

13. Addition of sum received as "Gift" by the assessee from his "father" - The donor is about 85 years old and the amount has been gifted to his own son through a gift deed...

14. Addition to income - additional evidence submitted by assessee allowed - AT

15. Addition made u/s 153A on account of undisclosed foreign bank account and interest income thereon - assessee confronted with client profiles from HSBC Bank showing...