Home Highlights August 2012 Year 2012 This

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

3. Capital gain computation - cost of acquisition of the immovable property - The deduction on account of cost of acquisition is to be allowed with reference to the...

4. Computation of indexed cost of acquisition – capital gain on transfer of capital asset acquired through succession - for the purpose of 'Indexed Cost of Acquisition', it...

5. Determination of the cost of acquisition - computation of the period for which the asset is held by the assessee - property transferred to the assessee under a will or...

6. Base year for considering cost of inflation index (CII) for computing long term capital gain on inheritance of property - it should be the date when previous owner...

7. Computation of LTCG – Capital receipts in lieu of inheritance – FMV - the property is inherited the cost of acquisition of the property has to be treated as per the...

8. Capital gain computation - Failure of the assessee to offer capital gains in the appropriate year will not disentitle the assessee to claim cost of acquisition....

9. Computation of LTCG – Whether the value of surrender of tenancy right is to be considered as cost of acquisition of house property - Held yes - AT

10. Capital gain computation - disallowance of interest on housing loan which has been claimed as part cost of acquisition - The ITAT upheld the CIT(A)'s decision, agreeing...

11. Computation of capital gains - the cost of inflation index should be made applied with reference to the year in which the capital asset was first acquired by the...

12. 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...

13. 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...

14. The proposed amendment seeks to address a lacuna in the computation of cost of acquisition under clause (ac) of sub-section (2) of section 55 of the Income Tax Act, 1961...

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