Revision u/s 263 - Nature of capital gain - On going through the ...

Capital Gain Revision Clarified: Land Transfer Date Corrected to April 17, 2008, Validating Assessing Officer's Order u/s 263.

April 7, 2023

Case Laws Income Tax AT

Revision u/s 263 - Nature of capital gain - On going through the copy of the purchase deed of the said land, we find that direct possession of the land in question had been handed over/transferred to the appellant being one of the co-owners/ purchaser of the land on 17–04–2008 only and not on 17–05–2010 as presumed by PCIT. - order passed by the assessing officer is neither erroneous nor prejudicial to the interest of Revenue. - AT

View Source

← Previous Next →

Revision u/s 263 - Nature of capital gain - On going through the ...

Capital Gain Revision Clarified: Land Transfer Date Corrected to April 17, 2008, Validating Assessing Officer's Order u/s 263.

April 7, 2023

Case Laws Income Tax AT

You may also like:

Revision u/s 264 - Refund of excess tax paid - Admittedly, petitioner has paid more capital gains than what should have been paid. Capital gains has to be calculated on...

Capital gains arising out of land acquisition compensation - date of accrual of capital gains for the purpose of Section 45 - capital gains shall be deemed to have...

Capital gain on sale of land - Nature of land sold - agricultural land - calculation of shortest route - , although there is no doubt that conflicting reports were...

LTCG - capital assets OR agricultural land - at the time of sale the assessee’s land was more than 8 KMs away from the local limits of Municipal Council - assessee’s...

Exemption u/s 54B - Agriculture land - vacant land - if the AO comes to the conclusion that the impugned lands are agricultural lands, still the capital gain arising on...

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...

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...

Capital gain from sale of commercial property - intra-head adjustment of loss - Benefit of carry forward of long term capital loss on the sale of shares for the current...

The assessee sold agricultural land during the year which the Assessing Officer (AO) treated as a capital asset, leading to levy of long-term capital gains tax. The...

The ITAT Visakhapatnam dealt with a revision u/s 263 regarding the treatment of a residential property sale as short-term or long-term capital asset. The dispute...

Capital Gain - Receipt of consolidated amount - where a gain from one of capital assets was a short-term capital gain while from other it was a long term capital gain,...

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...

Correct head of income - profit on sale of land /immovable property - business income or capital gain income - Correct head of income - profit on sale of land /immovable...

Correct head of income - Business Income or capital gain - assessee decided to sale the agriculture land, due to compulsion, hence assessee cannot be treated as a trader...

Capital Gain on the acquisition of Land - Claim of exemption u/s 10(37) - The SDM report categorically mentioned that no compensation for standing crops was given to the...

Quick Updates: