Computation of Capital Losses - the statutory provisions do not ...

Case Laws Income Tax

November 3, 2021

Computation of Capital Losses - the statutory provisions do not empower Ld. AO to substitute actual consideration received by the assessee with hypothetical sale consideration. The consideration which never accrued or which was never received by the assessee could not be brought to tax as capital gains or business income - AT

View Source

← Previous Next →

Computation of Capital Losses - the statutory provisions do not ...

Case Laws Income Tax

November 3, 2021

You may also like:

MAT computation - Disallowances on account of loss on revaluation of fixed assets - The expression 'income defined under Section 2(24) of the Act does not include such...

Capital gain computation - As such the assessee has claimed higher value than the fair market value as per the AO. Thus in our considered view, the AO has no power to...

Claim towards bad debts - if the provision written back is the excess provision than the money realized, then that would 100% be brought to tax apart from the fact that...

MAT computation u/s 115JB - Adjustment of resultant gains / losses of the amalgamation - Accumulated loss - cancellation of shares - Share Capital was reduced with a...

Revision u/s 263 by CIT - Capital gain computation - where the purchase of land & building and sale of land & building are covered under a single deed of purchase &...

The ITAT Mumbai addressed errors in capital gain computation. The Assessee's claim of ₹ 859,680 was accepted over the AO's ₹ 791,221. An application u/s 154...

Revision u/s 263 - Computation of capital gain/loss - reduction of the paid up equity share capital consequent to scheme of arrangement and restructuring - we are not...

Assessment of notional interest on loans - loan has been granted by the assessee to its sister concern - As per the provisions of Sec. 36(1)(iii) AO could have...

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...

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...

Revision u/s 263 by CIT - Wrong Capital gain computation as AO not examined the transaction by the angle of section 50C - in our considered view the view taken by the AO...

Denial of carry forward of long term capital loss - When the he taxed the difference in amount under short term capital gain and also disallowed short term capital loss...

Additions towards loss on transactions of Future/option through National Stock Exchange - While filing the return, we note that the assessee has not claimed this loss...

Disallowance of Capital Loss on Sale of Shares - sale of shares due to the amalgamation of certain entities - The AO disallowed the loss, treating it as an artificial...

The assessee, a Foreign Portfolio Investor registered in India, entered into Forward Foreign Exchange Contracts (FCC) with HDFC Bank to safeguard against foreign...

Quick Updates: