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 May 2022 Year 2022 This

Taxability of amount received for giving up his rights over ...

Case Laws     Income Tax

May 16, 2022

Taxability of amount received for giving up his rights over properties - family settlement - sum received by assessee is traceable to the realisation of rights as legal heir of intestate succession and not to any sale, relinquishment or extinguishment of right to property. - Amount not taxable - AT

View Source

 


 

You may also like:

  1. Taxation on amount received on family settlement - accrual of income - entire property was in existence at the time of partition in which concerned family members were...

  2. LTCG - Receipt of additional amount towards TDR - treatment to receipt of consideration the appellant ceased to be the owner of the property - compensation received for...

  3. Taxability of Settlement amount received - The nature of settlement amount is of capital receipt and it cannot be categorized as income. Further this amount has been...

  4. Taxability of the amount received by the assessee from his HUF, in which he is a coparcener - money received without consideration -Taxability of gift received by the...

  5. Capital gains computation - cost of acquisition relates back to date of transfer through will/family settlement to beneficiary. Determination of indexed cost of...

  6. Capital gain - tenancy right available with the assessee or not? - the amount received for not interfering possessions - the parties of the family settlement that the...

  7. CENVAT Credit - input service - amount paid to the broker / property consultant for purchasing the immovable property to be used for providing output service of renting...

  8. Long term capital gain - re-alignment of shareholding pursuant to family settlement arrangement - The assessee did not receive any share from the family of her husband....

  9. The ITAT Ahmedabad addressed the validity of an assessment by the AO on issues beyond those covered by a notice u/s 143(2) issued under CASS for limited scrutiny,...

  10. Revenue Recognition - gain on sale / Assignment of Intellectual Property Rights (IPR) - The assessee did not receive the sum in question for giving up any source of...

  11. Benami transaction - availability of joint family property or income - joint family acquisition - Purchase of property in the name of wife (Mrs. A)  - Presumption of...

  12. Settlement in a cheque dishonor case u/s 138 NI Act recorded by the court after satisfying its voluntariness is legally binding. Upon breach, the court must initiate...

  13. Capital gain in respect of sale of only one property - addition u/s 50C - assessee itself had leasehold rights in the said property and hence in instant facts, the...

  14. Taxability of Settlement amount - TDS u/s 195 - The settlement amount payable/paid by Satyam under the stipulation to the QSF pursuant to the judgment and final approval...

  15. Refund alongwith Interest - amount deposited during search proceedings - If tax is collected without any authority of law, the same would amount to depriving a person of...

 

Quick Updates:Latest Updates