Register Daily Newsletters My Bookmarks My Queries (D. Forum) My Replies (D. Forum) My Articles My Inbox (PM) Feedback/ Suggestions
Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding

   For Sales / Support:
WhatsApp WhatsApp 9911796707
Case Laws Acts Notifications Circulars Classification Forms Manuals Articles News D. Forum Highlights Notes
TMI - e-Newsletter     TaxTMI    India Authorizes Export of Nine Essential...     TaxTMI    GST Amnesty Scheme Under Section 128(A) Offers...     TaxTMI    Insolvency Professionals Must Use Baanknet Platform...     TaxTMI    GST Orders Uploaded Without Proper Service Violate...     TaxTMI    GST Time Extension During COVID-19: Court Defers...     TaxTMI    Bail denied for mastermind accused of Rs. 53.03...     TaxTMI    Taxpayer's Appeal Succeeds as Cash from Selling...     TaxTMI    SEBI Extends Cybersecurity Framework Compliance...     TaxTMI    SEBI Revises Lock-in Rules for InvIT Preferential...     TaxTMI    Customs Duty Rates Under India-UAE CEPA to Change...     TaxTMI    Karnataka Urban Water Supply & Drainage Board...     TaxTMI    Income-tax Rules Amended: Form 3CD Gets Major...     TaxTMI    Government Amends India-Mauritius CECPA Tariff...     TaxTMI    SEBI Amends REIT Regulations: Relaxed Lock-in Rules...     TaxTMI    SCN Issued Two Days Beyond Section 73(2) Deadline...     TaxTMI    Latest Case-Laws     TaxTMI    Latest Notifications + Circulars     TaxTMI    GST Council Decisions     TaxTMI       Right Stop
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights October 2012 Year 2012 This

Re-valuation of assets - Since no value has been realized in ...


Revaluation Shows No Taxable Value for Stock-in-Trade This Year: Assets Unchanged Under Current Rules.

October 23, 2012

Case Laws     Income Tax     AT

Re-valuation of assets - Since no value has been realized in respect of this stock-in-trade - nothing can be taxed in this behalf in this year. - AT

View Source

 

← Previous Next →

 

You may also like:

  1. Shares converted into stock-in-trade - Valuation adopted for conversion of investments to stock-in-trade, opening stock and closing stock - where an assessee converts...

  2. The Income Tax Act did not intend to tax deemed rental income from properties held as stock-in-trade prior to the assessment year 2018-19. Section 23(5), introduced from...

  3. Long Term Capital Gains - claim of conversion of agriculture land into stock-in-trade - The assessee was required to disclose such lands as stock in trade in books of...

  4. The key points covered in the summary are: Disallowance of deduction u/s 36(1)(vii) for debts written off, as the assessee did not create a provision in the books, which...

  5. Computation of profit - sale of asset after conversion from capital asset to stock-in-trade - Apply the provisions of Section 45(2) of the Act and compute the capital...

  6. Capital gain on conversion of capital asset into stock in trade is payable only in the year in which the assessee ultimately sells such stock in trade.

  7. Capital gain - effective date of Conversion of capital asset into stock in trade - till the time the owner himself either converts the capital asset into stock-in-trade,...

  8. Whether the assets received by the assessee at the time of partition are capital assets or stock-in-trade. - properties where held by the family as stock in trade -...

  9. Computation of capital gain - conversion of Gold in stock in trade and income from other sources - assessee converted the gold into stock in trade on various dates and...

  10. The provisions govern taxation of capital assets or stock-in-trade transfers during entity dissolution or reconstitution. Under both Sec 9B of IT Act 1961 and Cl 8 of IT...

  11. Revaluation of closing stock routed through profit and loss account - revaluation of Fixed Assets does not lead to any taxable income of an Assessee - HC

  12. Nature of land - capital asset or stock in trade - assessment u/s 153A - Assessee has declared the plot as capital asset - But after search, the same was shown as stock...

  13. Correct head of income - income earned out of sale of property - business income or capital gains - when the asset was converted into stock-in-trade - the assessee has...

  14. Depreciation - Cost of acquisition - depreciation to be allowed on WDV of the predecessor or Revaluation of assets - Conversation of firm to a company - The assessee as...

  15. Impugned show cause notice for shortfall in service tax payment based on Rule 5(1) of Service Tax (Determination of Value) Rules, 2006 quashed as ultra vires Section 67...

 

Quick Updates:Latest Updates

What's New:
    Latest Case Laws
What's New:
    Latest Notifications
What's New:
    Latest Circulars
F: GST Compliance for Temporary Goods Movement: Navigating Inter-State Tr...
F: YouTube Content Creator Seeks GST Input Tax Credit Clarification for Z...
F: GST Dispute Highlights Procedural Limits: Appellate Authority Barred f...
A: NGOs Can Now Easily Secure Tax Exemptions Through Streamlined 12A Onli...
A: Digital Export Revolution: Simplified Scheme Corrections Now Possible ...
A: Property Sale Value Dispute: Section 50C Requires Proper Valuation Pro...
A: GST Discounts Decoded: Navigating Promotional Strategies, Invoice Mana...
A: Consumer Rights Strengthened: New Act Empowers Buyers with Robust Prot...
A: Sustainable Aquaculture: Global Trade Balancing Ecosystem Health, Food...
A: Empowering Local Artisans: SHGs Leverage Digital Platforms and Global ...
A: Reimagining Sustainable Living: Transforming Consumer Habits to Heal E...
A: Massive Traffic Rule Overhaul: Hefty Fines, Potential Jail Time Introd...
A: Customs Rules Update: Expanded Origin Documentation Streamlines Intern...
A: Eco-Friendly Electoral Reforms: Transforming Political Campaigns Throu...
A: Transforming Cooling Technologies: Sustainable Refrigerants as Key Str...
H: Pharmaceutical Exporter Wins IGST Refund Claim, Court Orders Immediate...
H: Legal Challenge Upheld: Statutory Non-Compliance Invalidates Order Whe...
H: Accused Granted Bail in GST Evasion Case After Careful Review of Inves...
H: Legal Challenge to CGST Act Section 16(2)(c) Succeeds: Procedural Dela...
H: Tax Order Quashed: Procedural Defects Invalidate Summary Dismissal of ...
H: Legal Relief Granted: GST Registration Restored After Director's Death...
H: Income Tax Department Transfers Assessment Files Under Section 127, En...
H: Tax Reassessment Invalidated: Second Section 148 Notice Exceeds Four-Y...
H: Tax Reassessment Invalidated: Critical Procedural Defect Exposes Flawe...
H: State-Owned Corporation Granted Partial Tax Relief, Must Deposit Rs. 3...
H: Tax Proceedings Suspended for Dissolved Company Under Section 147 Pend...
H: Legitimate Business Investment Tax Deduction Upheld: Company Successfu...
H: Prior Period Expenses Must Be Recognized in Current Financial Year Cal...
H: Tribunal Clears Inter-Company Transactions, Finds No Violation in Part...
H: Transfer Pricing Appeal Invalidated: Jurisdictional Defects Render CIT...