Capital gain on property - Transfer u/s 2(47) - exchange of ...

Case Laws Income Tax

July 24, 2020

Capital gain on property - Transfer u/s 2(47) - exchange of properties between the assessee and his brother - Tribunal concluded that the artificial definition made by Lower Authorities with reference to gift and settlement was not appropriate. The Tribunal was of the opinion that for the purpose of Section 49(1)(ii) of the Act, there was no difference between gift and settlement and that in the instant case, the settlement made with the assessee's brother could not attract capital gains on this count. - HC

View Source

← Previous Next →

Capital gain on property - Transfer u/s 2(47) - exchange of ...

Case Laws Income Tax

July 24, 2020

You may also like:

Capital gain on JDA - Transfer u/s 2(47) - There was no transfer of property under this JDA. Also without accrual of construction to the assessee, assessee was not...

Capital gain – transfer of property where title is not absolute and clear - section 2(47)(v) - the assessee is liable to pay the capital gain tax during the year under...

Assessment u/s 153C - Short Term Capital Gain - transfer within the meaning of section 2[47] - As per the sec.2(47)(i), transfer in relation to capital asset includes...

Capital gain computation or Income from other sources - compensation received by the assessee on extinguishment of his right in property - transfer of asset u/s 2(47) -...

Capital gain computation - year of taxation - transfer u/s 2(47) - once assessee has received consideration, handed over possession of the property, executed registered...

Capital gain - JDA - transfer of capital asset u/s 2(47) - There is no document by which the revenue can come to the conclusion that there was delivery of possession....

Capital Gain - Transfer of capital asset u/s 2(47) - year of assessment - since the property was actually transferred in A.Y. 2013-14 the computation of short-term...

The ITAT Cochin dealt with a case involving Long Term Capital Gains (LTCG) arising from a Joint Development Agreement (JDA). The tribunal held that the transfer of...

Capital Gain - Transfer u/s 2(47)(v) - assessment year - AO himself has given credit for the amount of capital gains declared for the assessment year 2013-14, while...

Capital gain - compromise settlement for breach of contract - Transfer u/s 2(47) - the compensation received by the assessee arises out of the transfer of capital asset...

Transfer of property u/s 2(47) or not - capital gain u/s 45 - The land was transferred by the partners to the firm as capital contribution which was recorded as...

The case pertains to the applicability of Section 56(2)(x) of the Income Tax Act on the conversion of tenancy rights into ownership rights by a protected tenant. The key...

The legal summary is as follows: The assessee received two flats in exchange for old properties under a redevelopment agreement. Section 2(47) of the Act defines...

Capital gain - transfer u/s 2(47) - unregistered JD agreement - appellant had not received any consideration - since an unregistered agreement involving the transfer of...

Capital gain - exchange of flats - assessee has exchanged the existing flat with a new flat plus compensation amount. Under sec. 2(47) of the Act, the expression...

Quick Updates: