Assessment of Long Term Capital Gain U/sec 45(2) - conversion of ...

Land Conversion to Stock-In-Trade: Revenue Neutrality in Long-Term Capital Gain Claims on Plotted Land Sales.

August 3, 2021

Case Laws Income Tax AT

Assessment of Long Term Capital Gain U/sec 45(2) - conversion of land as stock-in-trade - sale of land after plotting - The assessee’s claim to compute long term capital gain with reference to saleable plot is revenue neutral in as much as on the sale of plots as business income the resultant income would be much higher and would be taxed at a higher rate. - when on an issue the tax effect is neutral, the same should not be agitated. - AT

View Source

← Previous Next →

Assessment of Long Term Capital Gain U/sec 45(2) - conversion of ...

Land Conversion to Stock-In-Trade: Revenue Neutrality in Long-Term Capital Gain Claims on Plotted Land Sales.

August 3, 2021

Case Laws Income Tax AT

You may also like:

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...

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...

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...

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...

Regarding long-term capital gain determination, indexed cost of acquisition claimed by assessee at Rs. 45 lakhs for property valued over Rs. 45 lakhs, evidenced by...

Short term capital gain arising out on transfer of land - nothing illegal about the conversion of land by the assessee into stock -in-trade - no infirmity in the order...

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...

Long term capital gain - allowable expenditure u/s. 48(i) - The same land has been sold in the year under consideration giving rise to long term capital gains to the...

Revision u/s 263 by CIT - Wrong claim of carry forward of long term capital loss - the long term capital gain, which is exempted under section 10(38) of the Act, would...

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...

The case deals with the characterization of profit/receipts from the sale of land, whether it should be treated as business income or long-term capital gain. The Supreme...

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...

Long term capital gain - sub-tenancy right - the assessee had a sub-tenancy right in the property and upon surrender thereof, the assessee received a sum which was...

Long term capital gain - agricultural land - capital asset u/s 2(14) - land as situated within Municipal Limit or not?- it can be held that “Dharuhera” of District...

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.

Quick Updates: