Characterization of gain on sale of flat - Short term capital ...

Case Laws Income Tax

October 31, 2019

Characterization of gain on sale of flat - Short term capital gain or Long term capital gain - valuation u/s 50C - conversion of stock in trade into capital asset - Cost of construction - CIT(A) rightly treated the same as LTCG and directed the AO to grant some relief.

View Source

← Previous Next →

Characterization of gain on sale of flat - Short term capital ...

Case Laws Income Tax

October 31, 2019

You may also like:

LTCG or STCG - Sale of ground floor of residential unit - whether it give rise to long term capital gains or short term capital gains - Computation from period of...

Entitled to claim long term capital gain on transfer of rights in the Flats - Deduction u/s 54 against capital gains arising out of sale of flats - the right over the...

The Appellate Tribunal considered whether the sale proceeds of residential units should be treated as capital gains or business receipts. It was found that the...

Deduction u/s 54EC - short capital gain arising on sale of depreciable asset - it cannot be said that section 50 converts long-term capital asset into a short-term...

Capital gains u/s 50 arising from the sale of long-term capital assets, though deemed as short-term capital gains, should be taxed at the rates applicable to long-term...

Rate of tax on sale of depreciable assets - STCG vs LTCG - as per Section 112 of the Act, the tax on long term capital gains on transfer of a long term capital asset is...

Setting off the long term capital loss arising on sale of shares not subject to STT against long term capital gain arising from sale of Shares subjected to STT exempt...

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...

Capital Gain - Receipt of consolidated amount - where a gain from one of capital assets was a short-term capital gain while from other it was a long term capital gain,...

Short term capital gain or business profit on sale of shares - Delivery based transaction should be treated as of the nature of investment transactions and profit...

Capital gain from sale of flats - short term or long term - computation of period of holding - The assessee had sold the flats and not its rights to acquire the flat...

Correct head of income - business profit or Long Term Capital Gains - GPA was restricted to the extent of builder’s right at 73.33% of the land and that portion allotted...

LTCG - Period of holding of asset - deduction u/s 54 - So far as the residential building/house constructed on the said land is concerned, it was constructed in ay:...

The key points covered in the summary are: Deemed rental income from flats owned by the assessee, allotted through a joint development agreement, was deleted by CIT(A)...

Set off of long term capital loss from sale of shares off market against the long term capital gain on sale of land allowed.

Quick Updates: