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 July 2020 Year 2020 This

Correct head of income - The Tribunal thereafter on the basis of ...

Case Laws     Income Tax

July 16, 2020

Correct head of income - The Tribunal thereafter on the basis of meticulous appreciation of evidence on record has recorded a finding that assessee has rightly disclosed the income from the property as long term capital gains instead of business income. The aforesaid finding by no stretch of imagination can be believed to either perverse and arbitrary.

View Source

 


 

You may also like:

  1. Rectification u/s 154 - Deduction claimed u/s. 80IAB - Wrong classification of income under the head ‘income from house property’, has resulted in wrong claim of...

  2. Correct head of income - profit on sale of land /immovable property - business income or capital gain income - Correct head of income - profit on sale of land /immovable...

  3. Correct head of income - income from letting out of warehouses or property to lessees - in cases where the earning of the rental income is the exclusive or predominant...

  4. Correct head of income - Profit or loss derived from sale of land - Assessee has computed profit or loss derived from sale of land under the head ‘capital gains’ to...

  5. Correct head of income - Receipt by way of an option agreement cannot be assessed under the head income from house property. Once said receipt is not assessable under...

  6. Income from license fees - income under the head ‘Income from other sources’ OR 'business income' - AT

  7. Reopening of assessment - Correct head of income - LTCG or business income - disallowing indexation on cost of acquisition and treating LTCG as business income -...

  8. Advance licence - advance licence had been obtained by misrepresentation or not - importing a different material than one permitted under the licence - violation of the...

  9. Receipt or accrual of any real income - Agricultural income - the tribunal has recorded the finding that the assessee was neither in possession of the agricultural land...

  10. Correct head of income - taxability of rental income - the assessee is owner and thereby receives any income from house property, it should be taxed under the head...

  11. Correct head of income - lease rent received by the assessee - Business of assessee taken over by the another Company as was running as JV - assessed under the head...

  12. Income from other source OR Capital gain - Correct head of income - relinquishing the right acquired under the Agreement by the Assessee - income from relinquishing...

  13. Nature of income - Income from warehouse - income from warehouse has to be assessed under the head income from house property not under the head income from business and...

  14. Revision u/s 263 - deduction u/s 54 - capital gains/ loss - During the assessment proceedings as well as revision proceeding the assessee had submitted the documentary...

  15. Correct head of income - letting out of Hotel/Resort as running business - treatment of revenue receipts from operation of Hotel/Resort - Contract for managing the...

 

Quick Updates:Latest Updates